The Covid-19 pandemic, as almost all people are aware, has changed consumption patterns, buying habits, and a desire for customers to buy ‘known,’ quality brands. With a concern for safety and overall well-being, people have sought out recognizable, staple brands they feel comfortable consuming.
Interestingly, the same trend has caught on with beer drinkers. People have gone back to well-known, household name brand beer by an additional 5% year on year, per research studies completed by Budweiser Brewing Group (BBG). Premium and Super-premium beer now accounts for 61.7% of total beer value. BBG projects that, by the year 2025, 70% of beer value will be coming from these brands deemed to be of superior quality.
This push for premiumization will undoubtedly benefit many of the old-time players, but knowledge of this trend can benefit retailers and others as well. It will be valuable for retailers to increase their inventory of high premium beer to make the most sales. Further, now is a great time for less well known brands to push their branding messages and to invest the necessary capital to be perceived as higher class.
To sum it all up, it’s time to PREMIUMIZE!
Reference and data from
“https://drinksretailingnews.co.uk/news/fullstory.php/aid/20785/Beer_consumption_set_to_go_premium__96_research.html”
