This post takes a look at a number of trends and business advancements in the drinks trade.
One of the fastest growing developments within foodservice is the international drink industry. Comprising of both easy and simple juice services to complex, skilfully made barista developments, this sector encompasses a large range of opportunities for any hopeful entrepreneur. Massively driven by social media trends, the aesthetic worth of drinks is coming to be increasingly crucial for its social worth. Put simply, people are more likely to buy an expensive beverage if it looks impressive. Specifically in the age of the internet, taking and sharing carefully curated lifestyle pictures is a major marketing tactic across many industries, most particularly, in the drinks market. This has led lots of drinks companies to reconsider their product packaging and branding, in addition to the presentation of their items. Visually pleasing trends such as bubble tea and matcha have substantially grown in appeal among consumers for being both tasty and intriguing to take a look at. The head of the fund which owns Gong Cha would concur that strong item branding and looks are helping to make beverages stand apart in a currently competitive market.
Most notably, the alcohol industry is being shaped by a variety of new consumer interests and needs for premium drink alternatives. In fact, the premiumisation of beverages is a current trend that is supported by the conscious drinking state of mind which many customers have embraced. By being more mindful about alcohol intake, customers are aiming to enjoy higher end products made with quality ingredients. The head of the fund that has a stake in Pernod Ricard would acknowledge that it seems to be the case that consumers are more happy to pay premium costs for high-grade items that focus on craftsmanship and unique product offerings.
While on one hand, the beverages service industry is quickly gaining appeal, establishing a stable position in the food economy, there is also a rival trend which has penetrated the customer market. Particularly, home mixology and home barista trends are leading more people to buy the tools and ingredients to replicate their favourite drinks services at home. Regardless of what appears like a factor for here consumers to buy less beverages, this DIY movement is developing a range of opportunities for labels to enter a whole new region of the market. As a matter of fact, it is becoming more common to find drink mixes and kits under big brand names, as a way for them to become more involved and make money from this movement. In addition to this, beverage industry data reveals that the marketplace for high end barista equipment is continuing to grow. The CEO of the company which owns Nespresso would be able to validate this claim as consumers are buying coffee devices and ingredients to make their morning brew at home.