As reality continues to shift by the day, so do consumer expectations.
The millennial generation, made up of people roughly born between 1981 and 1996 (ages 23 to 38 in 2019), might as well be ground zero for shaping consumer trends. This group want to purchase brands that better align with their own values, whether it be their dietary nutrition preferences, sustainability, philanthropy, etc. according to Simon Gunzburg, an analyst at market research firm Euromonitor International. But they also expect a personalized approach on their journey to purchase; Jaysen Gillespie, VP, Head of Analytics and Data Science at Criteo, explains that “Gen-Z and Millennials are constantly seeking products that not only fit into social trends, but also elevate life experiences.”
This blog post introduces the first of five consumption habits expressed by younger generation drinkers — convenience.
The definition of convenience has changed, especially in the food and beverage industry. Convenience is no longer your favorite beverage being available at your local grocery store, it is having your favorite beverage delivered to your door, within hours of ordering it online.
As predicted by Nielsen, the start of the new century has represented a turning point in the alcohol beverage industry’s efforts to keep up with broader e-commerce expansion, despite the mosaic of alcohol rules and regulations, which has been elevated by the affects of Covid-19. As the pandemic has temporarily shut down on-premise retail, such as restaurants and bars, and made events like visiting the grocery store a potential health risk, more consumers are turning to e-commerce to meet their needs.
During the week ending March 21, online alcohol sales were up 243% compared to the same week in 2019, and according to Food Dive, online sales of wine continues to dominate the market, contributing to 71% of the total beverage alcohol sales online. This technological shift in e-commerce has directly answered to the needs of a new lifestyle, shared by many. Bringing goods and services directly to consumers has not only become expected in the industry but these same e-shoppers also enjoy their delivery tailored to them.
Personalization can come in many forms, like pre-purchase messaging, packaging design, or even in a post-purchase email strategy. Each detail paid glorifies the at-home experience, making up for the minutiae that would have been appreciated at a dive bar, chic eatery, taproom, concert, or anywhere alcohol is sold on-premise. Recent chaos has created creative consumer mindset, so many traditional buyers are adopting and praising exotic behaviors.
Convenience and personalization will continue to prevail and reflect the lifestyles of forward-looking shoppers. Check back soon as the five part trending consumption habits blog series continues.