Inflation and product availability have resulted in consumers altering their shopping patterns. Research from Vericast shows how brand owners can continue to engage with consumers despite these challenges.
Research highlights opportunities for brand growth
August 5, 2022
New research from Chicago-based IRI, which recently merged with The NPD Group, reveals elevated at-home beverage alcohol consumption is here to stay. Despite high inflation concerns, retail price increases for beverage alcohol remain more moderate than other CPG categories. IRI’s 2022 Midyear Alcohol Update highlights that many consumers are opting to celebrate and socialize at home.
By digitally connecting distributors to retailers, distributor salespeople have reallocated their time and reimagined how they approach their retail accounts.
With the pandemic, as the eCommerce market hit its stride and many consumers turned to direct-to-consumer (DTC) brands, experts note that the beverage industry stands to benefit from DTC’s continuous growth.
For the 12th straight year, the spirits category, driven by premiumization, experienced accelerated growth. Tequila, RTD premixed cocktails and seltzer centric spirits are driving growth.
As consumers' shopping behaviors are changing, traditional grocery stores are seeking new ways to further engage consumers. For many grocery stores, the new path to differentiation is digital.
As the COVID-19 pandemic led to a surge in eCommerce and an accelerated digital transformation, some demand shifts could be temporary, while others are likely to have long-lasting effects.