1、ReportAlcohol&Non-Alcohol AdvertisingConsumer insights to drive campaign effectivenessReportAlcohol&Non-Alcohol Advertising 2Its no secret that the alcohol industry has been on a roller coaster ride over the past few years.Fueled by a strong economy and pandemic shopping behavior,sales in 2020 and 2
2、021 were extremely robust,driving product expansion,heavy marketing,and an ever-greater share of customer wallets.However,with COVID past us and the economy showing inconsistent signals,growth is becoming harder to achieve.Alcohol consumption in the US decreased slightly YoY in 2022(IWSR,BW166),part
3、ially driven by recessionary conditions,personal health priorities,and the availability of non-alcoholic alternatives.People are starting to drink less alcohol,spend less on discretionary beverages,and explore new substitutes;ultimately resulting in challenges for the industry at-large.As such,firms
4、 looking to compete are required to innovate their product lines,marketing strategies,and research efforts.To meet these innovation demands,many firms are leaning heavily into product diversification.Hard seltzers have exploded in the past few years,driving nearly all brands to create or distribute
5、their own version(s)of a bubbly,light,fruit-forward beverage.Ready-to-drink(RTD)cocktails are offering consumers an easy way to enjoy crafted spirits.Most recently,the non-alcoholic(NA)beverage category has started to take off,capturing ever-increasing demand for NA beer,wine,and spirits,along with
6、THC-and CBD-infused libations.A fluid situationConsumer attitudes and behaviors are also evolving.Newer generations are more focused on wellness,many Americans are dealing with economic uncertainty,and niche audiences are increasingly open to NA leisure beverages.With these consumer changes happenin