The cost of living crisis has meant that Brits are generally going out to drink less frequently, but when they do they are in search of higher quality beverages, according to a report from soft drinks and mixer brand Fentimans.
The report, which incorporates data and surveys from hospitality tracker CGA, found that 41% of consumers are going out less frequently than usual, compared to just 21% going out more often. It was found that one key distinction has been that instead of going out on Friday and Saturday, many consumers reportedly now choose one or the other.
However, according to the report, there is a consumer shift towards trading up when they do go out.
41% have cut the number of drinks they buy when they go out, but only 17% are buying drinks of ‘lower’ quality. Indeed, CGA’s findings revealed that, despite purse strings having to be tightened, almost a third (29%) of consumers would pay more for a ‘better’ quality drink – the same survey 12 months prior had that proportion at a similar figure (31%).
There’s also a growing interest in the provenance of drinks, with 16% of consumers surveyed suggesting that it is more important to them that a drink is local than it was a year ago.
This premiumisation can also be particular seen during celebratory occasions – more than a quarter (27%) say they quality is factor in their drinks choices for these events, a 4% year-on-year increase. Indeed, another sign of how consumers are making more of when they do go out – 42% claim to have been out for a food-led special occasion in the last three months, a significant increase on the 33% figure from a year earlier. Wine is the most popular drink at these occasions (35%), followed by soft drinks (26%) and lager (23%).
Overall, some 43% of consumers said they would prioritise on-premise visits when it comes to spending their disposable income, whereas only 34% would splash out on new clothes, 32% on home improvements, and 30% on international travel.
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This article originally appeared on the drinks business.
