Cautious alcohol consumption
Although the economy may be improving, research by the Nielsen Company illustrates that consumers are still being cautious when it comes to buying alcohol. This trend has led to more people staying in and purchasing less expensive products. Though the beverage alcohol industry has been greatly affected, the restaurant industry has endured an even harder hit since people drink even if they stay home. Here are some statistics compiled by the Nielsen Company:
- More than three-quarters of consumers stated they have not changed their alcohol beverage purchases as a result of the economic downturn. One quarter of consumers stated they are buying alcohol less often; 13 percent said they buy the same products once they are on sale.
- More than two-thirds of the customers who purchased products at a lower price during the recession said it is not likely they will return to their previous product preferences.
- One-third of consumers say they are now more likely to plan their purchases than to buy on impulse.
- 37 percent of consumers said they will go out more once the economy improves, though less than one third said they will frequent fine-dining establishments and bars on a regular basis.
Source: The Nielsen Company