FindingsQuick-service restaurants (QSRs) are focusing on expanding beverage options to cater to Gen Z and Millennial preferences for caffeinated, specialty drinks like matcha-based beverages. Monin’s Matcha Green Tea Concentrate is gaining popularity by simplifying matcha preparation, ensuring consistency, and providing a convenient, premium product for QSRs to offer as a coffee alternative.Key TakeawayOffering convenient, high-quality…
Category: Premiumization
Insight of the Day: How the Maker of Hendrick’s Gin and Glenfiddich Is Breaking Through With Gen Z
FindingsWilliam Grant & Sons is adapting to evolving consumer preferences, especially among Gen Z, by balancing on- and off-premise sales, innovating with limited-edition products, focusing on premium quality, and exploring non-alcoholic alternatives. Hendrick’s Gin, Glenfiddich, and other brands in its portfolio are maintaining cultural relevance through unique packaging, product innovation, and strategic messaging.Key TakeawayTo connect…
Insight of the Day: Premiumisation and the New Consumer
Findings:1. The concept of “premiumisation” is evolving, with consumers increasingly willing to pay more for high-quality, unique products.2. A new premium consumer demographic has emerged, focusing on quality, experience, and brand story rather than simply price.Key Takeaway:Premiumisation now emphasizes authenticity, sustainability, and distinctiveness, as consumers seek brands that resonate with their values and deliver a…
Insight of the Day: Trends in tea: Retargeting a smaller market
Findings: • Tea is a smaller market than coffee in the UK foodservice industry, capturing about 15% of the hot drinks market compared to coffee’s 75%. • Demand for chai and sparkling teas is on the rise, with innovations like “Fizz Tea” and chai latte experiencing growth, especially among younger consumers. • Premiumization is a…
Insight of the Day: After Years of Growth, American Whiskey Sees Market Decline in 2023 and 2024
Findings: After years of steady growth, the American whiskey market faces a domestic decline due to economic pressures, changing consumer preferences, and an oversupply. While the Super-premium-and-above segment continues to grow, the Standard-and-below segments, which make up the bulk of the market, are seeing significant declines as cost-conscious consumers cut back.Key Takeaway: Economic pressures are…
Insight of the Day: BeautyHow Luxury Deodorant Is Taking Over the Fine Fragrance Industry
Findings:Luxury deodorants are rapidly emerging as a prominent category in the fine fragrance industry. Brands like AKT, Salt & Stone, and evolvetogether are blending high-end fragrances like patchouli, vetiver, and sandalwood with odor-reducing deodorants. This trend is transforming the deodorant aisle from a clinical necessity to a luxury personal care experience, driven by a desire…
Insight of the Day: The trends driving mixers in 2024 – Category Intel
Findings:The mixer category is shifting from mass-produced, generic options to premium, artisanal offerings. These new mixers feature unique flavors, healthier ingredients, and a greater focus on sustainability. Upscale bars are now actively seeking out these mixers to elevate their cocktails and make spirits more approachable to consumers.Key Takeaway:Premium and artisanal mixers are gaining popularity due…
Insight of the Day: Super-Premium Gin Has Struck a Chord With Millennial and Gen-Z Drinkers
Findings:Super-premium gin, priced above $28.30 per bottle, is experiencing significant growth among Millennials and Gen Z, even as overall gin consumption declines. This shift is fueled by the rise of craft cocktails, premiumization in spirits, and younger consumers’ willingness to spend more for quality and unique botanical flavors. Social media has also played a major…
Insight of the Day: Heineken Sales Miss Forecasts as Consumers Shy Away From Beer
Findings:Heineken reported lower-than-expected sales in the third quarter of 2024, with revenue declining by 5.5% year-on-year to €9.07 billion ($9.8 billion). Consumers are spending less on beer, particularly in the Americas and the Asia Pacific, as inflation remains high. Despite this, Heineken saw some growth in regions like Africa and Europe, with premium beer performing…
Insight of the Day: New trend re-shaping premiumisation
Findings: A new trend is emerging in premiumization within the alcohol market, as purchasing decisions are being influenced by shifting consumer preferences. This will be discussed in detail by Circana’s Director of Health & Lifestyle, Jarna McLean, at the Retail Drinks Summit.Key Takeaway: Premiumization continues to be a key driver in the alcohol industry, but…
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