Are Millennials becoming teetotallers?
The USA’s iconic beer brands are seeing a seismic shift towards much lower alcohol consumptions in both Millennials and Gen Z.
The trend has seen major brewers lose market share for the second consecutive quarter, with Millennials favouring Wine and Spirits or non alcoholic drinks.
One major producer is growing its non alcoholic drinks business to cater for this new trend.
Those in the Millennial and Gen Z who do consume alcohol seem to be opting for more premium spirits and wines, and they tend to consume far less than their predecessors.
Beer marketers are focussing on new flavours of lighter and premium beers in an attempt to win back market share.
According to 2017 research by Eventbrite, Millennials are drinking less for two main reasons:
- Lack of funds, or preferring to spend their funds on other things
- Being drunk is something their parents did, they don’t consider it a good look with only one in ten seeing being drunk as cool.
In fact, 42% of Millennials say they drink less now than they did 3 years ago.
So are younger health-conscious generations going to see the alcohol industry slide, or will manufacturers have to design more bespoke flavours and ingredients. It’s a matter of less quantity more quality with these generations.
With the growth in the craft beer, craft distilling and premium wine markets, it’s no wonder.