New Year’s Eve is only days away but what is on the drink menu? Millennials are great consumers for alcohol corporations, distinguishing their varying tastes and preferences. In fact, millennials make up 30% of the total consumer product dollars that will be spent by 2020 because there are 77 million millennials ( and growing). What do millennials value? They value experience and authenticity; and when purchasing alcohol, it is no different. Additionally, they research brands online, read blog recommendations and taste test in-store to make the best decisions for their taste buds.
Millennials 21-34 represent about one-fourth of adults 21 and over, but they account for 35% of U.S. beer consumption and 32% of spirit consumption. Comparatively, they represent only 20% of wine consumption. Bottom line: they are open to trying different types of alcohol and exploring unique settings for an interesting customer experience. Learn about the types of alcohol millennials prefer drinking when spending time with friends.
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