The craft beer, wine, and spirit markets will soon be seeing a change in their consumer audience. A new study released by Technomic researched Special Trends in Adult Beverages and found that Millennials are driving the industry. A ‘Millennial’ is anyone born in the U.S. between 1977 and 1992. The entire group which will reach legal drinking age by 2018. The research shows this age group holds some starkly different values when it comes to consuming their adult beverages which is changing how some companies are marketing their products.
The top choices for Millennials when it comes to picking their adult beverages include boutique spirits, craft beer, cocktails, hard ciders and sweeter wines like Moscatos. Millennials have higher education, like trying new drinks and are more price conscious then other age groups. They also drink alcohol frequently, both at home and at bars and restaurants. According to Market Watch, a key portion of the study also found that Millennials greatly value variety in their drink choices.
On the heels of this new research some bars and restaurants are already taking steps to ensure they keep up with their customer base. Some are adding new happy hour promotions, changing menus, prices or expanding their drink line-up. Some adult beverage producers like HobNob Wines are creating an entirely new line of drinks just to appeal to their new audience. While others are amping up their marketing efforts using new technology like Facebook and Twitter.