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Consumer and Innovation Trends in Spirits 2014

  • May 2014
  • 137 pages
  • GlobalData
Report ID: 3351903

Summary

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Summary
Spirits are falling behind other categories with respect to addressing some key consumer needs. For example, flavored alcoholic beverages have been more effective in delivering convenience and simplicity, wine's inherent health credentials make it a more natural choice for those seeking better-for-you offerings, and the beer category has arguably overshadowed spirits in social media efforts.


Synopsis
- Each section is introduced with a concise SWOT analysis that outlines how each TrendSights mega-trend can be applied to the spirits category.

- Consumer insight analysis covering 24 countries globally highlights the key attitudes and behaviors that drive the choices of spirit consumers.

- Case studies and numerous product examples throughout the brief showcase best-in-class innovations in spirits from across the globe.

- Key considerations and potential opportunities have been identified based on consumer preferences and recent product innovations in this category.

Reasons To Buy
- How do Canadean's mega-trends apply specifically to spirits? How is this likely to evolve over the next few years?

- Where is innovation occurring in spirits and what does it look like?

- Going forward, what are some of the potential opportunities and key considerations for spirits manufacturers?

- How are industry players using the online space to more effectively engage with consumers?

Key Highlights
Sensory andamp; Indulgence remains the mega-trend holding the greatest influence over innovation in the spirits category, as taste remains the top priority for consumers when considering whether to pay a premium price.

Young drinkers are the most experimental with new products or brands in the category and, hence, are the least brand-loyal. By sub-category, consumers of specialty spirits and fans of tequila and mezcal are the most experimental.

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Related Market Segments :

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Beverage

ref:plp2014

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