IRI beverage alcohol research reveals consumers will keep the party at home
Research highlights opportunities for brand growth
New research from Chicago-based IRI, which recently merged with The NPD Group, reveals elevated at-home beverage alcohol consumption is here to stay. Despite high inflation concerns, retail price increases for beverage alcohol remain more moderate than other CPG categories. IRI’s 2022 Midyear Alcohol Update highlights that many consumers are opting to celebrate and socialize at home, especially given challenges in on-premise, driven by labor shortages, rising prices and reduced menus.
Insights from the new report can enable retailers and manufacturers to make better merchandising and promotional activity decisions to enhance the shopper experience and drive growth and profitability, the market research firm notes.