WHAT THE DATA SAY: In past 5 years, Americans consumed more of all alcohol types, except craft beer

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

DYNAMIC PRICING FRUSTRATING CONSUMERS

Dynamic pricing – popularized by ride-sharing services like Uber and Lyft – is causing increasing consumer frustration, based on our Harris Poll survey with NerdWallet.

• Consumers are concerned about dynamic pricing transparency and fear of missing out on lower prices.
• 22% of Americans say they would not spend money at a business that uses dynamic pricing, especially older consumers (29% for Gen X, 26% for Boomers, 17% for Millennials and 15% for Gen Z).
• 25% say they would spend money with a business that uses dynamic pricing “only when prices are down” (39% for Gen Z, 28% for Millennials, 21% for Gen X and 20% for Boomers).

RECHARGING EV ADOPTION

With electric vehicle growth slowing, the Harris Poll joined with Urban Science to determine what it will take to recharge the market going forward.

• 68% of auto buyers indicate they will be ready for an EV by 2035 and 48% by 2030. (“Ready by 2030” is 56% among Gen Z, 45% for Millennials, 36% for Gen X and 28% for Boomers).
• Consumers want answers to the concerns holding them back from embracing EVs: distance on a single charge (38%), initial cost (30%), recharging time (28%) and home charging installation/cost (25%).
• See also: Navigating critical automotive retail challenges

CRAFT BEER COOLS OFF

Gone, it appears, are the labels of “beer drinkers,” “wine drinkers” and “spirits drinkers.” Younger drinkers, in particular, are drinking a bit of everything – except craft beers, according to our Harris Poll survey with the Brewers Association.

• During the past five years, weekly consumption has increased for all beverage alcohol types, except craft beer.
• Among those who drink craft beer, they are now more likely to drink spirits on a weekly basis: In 2015, 81% consumed craft beer several times a month or more often. Today, it’s 62%.
• 92% list flavor as the primary driver in making drinking decisions (94% for Boomers).
• Alcohol content (84% for those ages 45-54) and ingredients (83% for those 35-44) are the next most important factors, followed by packaging appearance (65% for those 21-34) and being locally made (61% for those 35-44).

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