As one of the principal b-to-b markets we research, how is the drinks industry faring in these troubled times? Well, since you ask, pretty well indeed!
Whilst other sectors may be reporting tough trading conditions, it would appear that business is better than ever for beverage manufacturers, distributors, and retailers. One of the possible reasons for this is that whilst consumers are cutting back on the number of meals out they eat, they are instead opting for cooking at home accompanied by an alcoholic beverage or two. Similarly, when consumers do venture out, they seem to be cutting back on more expensive tipples such as cocktails in favor of a cold beer.
According to a recent survey by the Beer Institute trade group:
More than 16 million barrels of domestic beer were sold in the United States in July, and annual sales through that month are up 1.4 percent, the largest increase since 1990, when the economy was headed toward a recession.
A mature industry, with around $50 billion in annual sales, beer is America’s favorite alcoholic drink, with more than half the available market share. However, trade groups for the liquor and wine industries have reported similar increases in consumption so, all in all, things are looking good for the US drinks sector.
To read more about this industry trend, please click here.