Thirty-eight percent of global consumers cite 'unique taste/flavor' as being highly influential in encouraging them to pay more for an alcoholic drink, according to new report
April 2, 2012
– Reportlinker.com announces that a new market research report is available in its catalogue:
Consumer and Innovation Trends in Flavored Alcoholic Beverages
Consumers' sensory demands underpin FAB NPD; however, changing consumer needs and an increasingly competitive marketplace are creating new innovation opportunities, which is ultimately driving the segmentation of the FAB category by style and price.
The FAB category benefits from an array of participants across the alcoholic drinks space. This has bought continued category investment, which in turn has driven innovative product development. This brief outlines the most important consumer and product trends impacting the FAB category globally, using Datamonitor's TrendSights mega-trend framework as a basis to organize the key themes covered.Each section is introduced with a concise SWOT analysis that outlines how each TrendSights mega-trend can be applied to the FAB category Consumer insight analysis covering 20 countries globally highlights the key attitudes and behaviors that drive consumers' FAB preferences. Draw inspiration from numerous case studies and product examples throughout the brief that showcase best-in-class innovations in FABs. New product opportunities are spurred by consumer demand for more unique and novel product flavors. Over a third (38%) of global consumers cite "unique taste/flavor" as being highly influential in encouraging them to pay more for an alcoholic drink. FAB products can capitalize on consumers' willingness to experiment through new product development. Consumers demonstrate a desire to return to a time when life was simpler and less demanding. Indeed, two-thirds of global consumers said that living a less complicated life was important to them. Brands can look to promote the realness and wholesomeness of product ingredients to convey authenticity and resonate with those seeking comfort and simplicity. How do Datamonitor's mega-trends apply specifically to FABs? How is this likely to evolve over the next few years? Where is innovation occurring in the FAB category and what does it look like?Is sustainable packaging a "nice to have" or a "must have" in the alcoholic drinks space? To what extent are consumers willing to sacrifice taste for a healthier product? How are industry players using the online space to more effectively engage with consumers?
ABOUT THIS RESEARCH
- Features and Benefits
- Key questions answered
CMS Energy Corporation
To order this report:
Cigarette/Newspaper/Liquor Stores Industry: Consumer and Innovation Trends in Flavored Alcoholic Beverages