New research from premium British drinks company Gunner Cocktails Ltd has revealed that half of British consumers will cut their spending on alcohol, representing a potentially challenging blow to the UK's drink sector.
It is evident that the start of 2023 will be a difficult period for many drinks brands in the UK as consumer confidence continues to reach historic lows1. However, Gunner's research has identified four key trends which will shape the UK's drinks sector in 2023 - if capitalised upon, firms should see bottom lines benefit greatly.
Buying British - 61% of consumers prefer buying British products
The findings of Gunner's survey shed light on an important issue which has come to dominate headlines over the last couple of years - the importance of buying products made in Britain. 61% of respondents to Gunner Cocktails survey said that buying products made in Britain was important to them, reflecting a growing desire amongst consumers to support British businesses.
Cocktails are king - 45% of consumers believe hospitality venues need to serve more ready to drink cocktails
Over 45% of respondents also believed that more hospitality venues should serve ready-to-drink cocktails, in line with the latest research from Esomar which has predicted that the global ready-to-drink canned cocktail market is set to witness growth at a growth rate of 11.6%, reaching a valuation of USD$57.2 billion by 2032. With the UK's drinks sector already struggling, increasing the availability of ready-to-drink cocktails could provide a vital lifeline to hospitality businesses in 2023.
Premium natural ingredients - 48% of consumers are in hunt of drinks with natural ingredients
Respondents also indicated that they would place more premium products in their shopping basket this year, with over half of consumers (52%) believing that they will drink more premium alcoholic drinks in 2023. Furthermore, nearly half of respondents to Gunner's survey (48%) felt that drinks with natural ingredients play an important role in their lifestyles.
The rise of NoLo canned cocktails - 40% of consumers feel let down by the lack of free/low-alcohol alternatives
Gunner Cocktail's research has also showed that 40% of customers feel that there is not enough alcohol free/low-alcohol alternatives available on the market. In a challenging economic environment, Gunner's research shows that drinks which cater to these trends will be able to secure their place at the forefront of one of the fastest growing drink categories.
Giles Fuchs, Founder of Gunner Cocktails, said: "Whilst many predict a difficult start to 2023 for the UK's drinks industry, our survey has created a roadmap for British drinks brands looking to increase their market share and curate the drinks which consumers are thirsty for this year. What stood out in our survey is the large swathes of consumers which are thinking more about were their products come from. Gunner Cocktails has always been proud to make its drinks using the best premium natural ingredients sourced within the UK, and we will continue to look for ways to support British business".
Dannie McDonald, Managing Director of Gunner Cocktails, said: "With our survey revealing that half of consumers will be cutting back their spending on alcoholic drinks in 2023, it is vital that British
drinks brands look to capitalise on the growing NoLo market which is set to be a hotbed for innovation and creativity in the coming year. Our survey also confirms that buying British not only offers a vital lifeline to industry's already facing a difficult economic situation, but that it can help grow a brands consumer base by attracting a new segment of consumers conscious about the brands they associate with."
