With the pandemic, as the eCommerce market hit its stride and many consumers turned to direct-to-consumer (DTC) brands, experts note that the beverage industry stands to benefit from DTC’s continuous growth.
Following two years of significant change, the term pivot has resonated throughout the beverage industry to signify how nimble manufacturers, suppliers and distributors can adjust during the COVID-19 pandemic.
During the pandemic, consumers looking to save money turned to private-label products. With nearly 50% of market share, refrigerated private-label dairy products had dollar sales of $7.3 billion, slightly less than the $7.9 billion notched for national brands.
The U.S. beer market remains in a state of flux as consumers move away from historical strongholds for more premium offerings. As a result, domestic beer sees its super-premium sector outpacing the segment.
With the outbreak of COVID-19, retailers have worked hard to adapt by making their stores as safe and convenient as possible for consumers. In the limited-assortment stores category, drug stores and discount retailers are finding where they fit in this eCommerce evolution.
Analysts highlight that the coronavirus pandemic is causing ripple effects in the CPG market. The good news for wine is that it already had the biggest online sales presence, driving 55% of wine growth.