The current appetite for cocktails presents a telling opportunity for key industry stakeholders to both revitalise drink sales and counteract the decline in spirits sales, according to CGA by NIQ.
Consumers who drink cocktails in the on-premise often do so during sociable get togethers (61%), as this occasion type is also one of the more frequent ones it presents a great opportunity to maximise on sales during everyday occasions.
According to data from CGA by NIQ, whilst the category is also popular during special occasions (55%), treat occasions (46%), outings as a couple (44%), and big nights out (30%) – venues and operators should be considering ways they can influence cocktail sales during the more frequent occasion types, enhancing their strategies so consumers choose cocktails over other categories during their visit.
Coupled with a surge in popularity of bottomless brunches, it presents a prime opportunity to boost cocktail sales during food-led occasions.
While a fifth (19%) of consumers enjoy cocktails during food-led occasions, 41% are indulging in cocktails during both food and drink-led occasions, +5pp year-on-year.
This shift suggests a well-curated cocktail menu can enhance the dining experience and drive higher sales. Moreover, getting the cocktail menu right is crucial as cocktails become more integral to food occasions.
In terms of daypart dynamics, evenings and weekends are traditionally the peak times for cocktail consumption, with a colossal 81% of consumers choosing to drink cocktails from Friday to Sunday.
CGAS by NIQ’s data shoes that Saturday leads at 72%, followed by Friday at 67%. Yet the opportunity to increase sales during weekdays should not be overlooked.
While Monday to Thursday accounts for only 19% of cocktail consumption, days like Wednesday (14%) and Thursday (13%) show potential for growth.
Understanding the best-fit serves for earlier dayparts and weekdays is essential for retaining cocktail appeal throughout the day.
Early evening (5-8pm) remains a critical period, with more than two thirds (69%) of consumers opting for cocktails during this time slot in Q1 2024, up 66% year-on-year. Late evening (8-10pm) also holds steady at 59%, while consumption dips after 10pm to 22%, albeit slightly higher than 18% year-on-year.
Whilst mid-morning, lunchtime, and mid-afternoon consumption remain static, consumers said they are likely to visit a venue for cocktails earlier in the day instead of the evening (64%) or midweek instead of the weekend (59%), if they offered promotions / discounts – indicating potential to influence visitation during the quieter dayparts.
There are clear opportunities for drinks brands, suppliers and venue operators to leverage the social aspect of cocktails by creating events and promotions around special celebrations, treat and reward occasions, and sociable get-togethers.
In addition, there are many possibilities to develop strategies to attract weekday cocktail drinkers, such as mid-week specials, themed nights, and targeted marketing campaigns. Similarly, daypart innovation can capture additional sales by offering cocktails during earlier parts of the day, such as brunches and lunches.
”Drinks suppliers and operators can open up tremendous potential by drilling down into cocktail consumption in the on-premise, aligning their offerings with consumer preferences, and optimising for different dayparts,” says CGA by NIQ’s Client Director, Violetta Njunina.
“They can not only drive cocktail sales but also invigorate the overall spirits category. The key is creating memorable experiences to resonate with consumers, no matter what the time of day is.”
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