In the evolving landscape of on-premise beverage alcohol sales, recent data reveals intriguing shifts and challenges. According to CGA Strategy, a leading analytics firm specializing in the hospitality sector, there are notable trends impacting the industry.
One significant trend highlighted by CGA Strategy's latest report is the decline in spirits volumes within the global on-trade sector. The report indicates a substantial 7.6% decrease in spirits sales, reflecting broader challenges faced by the industry amidst changing consumer preferences and economic conditions (The Spirits Business, 2024).
Amidst these challenges, there are also opportunities emerging for beverage alcohol brands. CGA Strategy's collaboration with NielsenIQ has strengthened their On-Premise Measurement (OPM) and share tracking services, providing brands with enhanced insights into consumer behavior and market dynamics (CGA Strategy).
Consumer behavior within the on-premise market has been a focal point of recent discussions as well. CGA Strategy's webinar highlighted nine key takeaways, shedding light on consumer preferences and the factors influencing their choices when dining out or socializing (CGA Strategy).
Furthermore, specific insights into drink sales hotspots have been identified, showcasing trends that beverage establishments can leverage to optimize their offerings. From preferred drink categories to emerging consumption patterns, these insights offer actionable strategies for businesses aiming to thrive in a competitive market (CGA Strategy).
As the on-premise beverage alcohol sector continues to navigate through challenges and opportunities, these insights from CGA Strategy provide valuable perspectives for industry stakeholders. Whether adapting to shifting consumer demands or harnessing new data-driven strategies, businesses can utilize these insights to drive growth and innovation in the evolving landscape.
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