Connecting Alcohol Brands to the Celebrations Industry
Beer, wine and spirits brands make up a huge $197 billion industry, one that inherently overlaps with the celebrations industry, a $38 billion market. In our latest white paper, we analyzed the role of liquor in holidays and special occasions, and here we’re zeroing in on the inextricable link between beer, wine & spirits and celebrations.
Throughout the year, there are many moments to celebrate and toast with a cocktail. According to the calendar there are 11 federal holidays, 33 traditional/religious holidays, as well as numerous birthdays, anniversaries, engagements, weddings and countless other occasions to celebrate. Estimations from online party planning tools suggest that for any celebration of more than 5 people, hosts generally spend 20% of their party budget on alcohol. For larger events like weddings, that number is likely to be even higher.
Certain occasions lend themselves to one type of beverage over another. Beer sales, for example, are higher for cookout-related holidays like Memorial Day, 4th of July, and Labor Day. These Patriotic holidays tend to be more casual and are held outdoors during warmer months, so it makes sense that beer is the beverage of choice. However, this also represents an opportunity for other types of beverages that can also be labeled as cool and refreshing.
New Year’s Eve is traditionally a big holiday for champagne and other varieties of bubbly such as Prosecco or Cava. Cinco de Mayo is inextricably linked to margaritas and tequila-based drinks, as well as beers like Corona and Dos Equis. And what would Christmas be without spiked eggnog?
A considerable opportunity for wine and liquors lies in weddings, engagement parties, and bridal showers. Engagement parties wouldn’t be complete with the champagne toast to the newly engaged couple, and many bridal showers take on a theme, whether it’s a brunch with mimosas or a garden party with spiked lemonade. These celebrations allow brands to be creative with both their product and their marketing.
Smaller holidays pack just as much punch (pun intended) as the big guns when it comes to celebrations. More and more Americans are throwing parties for holidays like Valentine’s Day, Mardi Gras, and St. Patrick’s Day providing beverage companies with nice revenue boosts between major holidays.
It seems that almost every holiday or reason to celebrate lends itself to one type of alcohol or another. With the celebrations industry estimated at $38 billion, the opportunity for alcoholic beverage companies to capitalize on some of that revenue is huge.
Download the free white paper to learn more about current consumer trends in the alcoholic beverage industry and what the industry can do to better reach consumers who spend billions on alcohol every year.
Posted by Katie Petrillo