While UK millennials are drinking less than their parents’ generation, they remain a significant market for alcohol producers, as they are less likely to change consumption habits than their counterparts in other countries, says GlobalData, a leading data and analytics company.
Millennials are not a homogeneous group of people, with the older part having more favorable attitude towards drinking. Moreover, attitudes vary between countries. According to GlobalData’s 2017 Q1 survey only 14% of 25-34 year old consumers in the UK would make fewer alcohol purchases in future if there were significant political or economic changes, compared to 33% globally.
Aleksandrina Yotova, Consumer Analyst at GlobalData, says: “While a number of trends point towards declining drinking, young British consumers are still the most likely age group to binge drink, according to ONS data.
“Millennials are money conscious and place a greater emphasis on health, opting for organic food and time at the gym. Many also think that alcohol is not necessary to encourage socializing and having fun. Sober dance parties emerged as a new clubbing form about three years ago in the UK and US. However, these parties remain a niche, if interesting, trend.”
This means that millennials remain one of the most important markets and companies across beer, wines and spirits are finding exciting new ways to target these consumers. Treasury Wine Estates launched a “dark red” wine under the 19 Crimes The Banished brand name in the UK. The bottle tells a captivating story by featuring images of criminals, each guilty of one of the 19 crimes in Britain who turned them into colonists, becoming some of the first settlers in Australia.
Yotova adds: “An application with ‘Augmented Reality’ technology allows consumers to see the character on the bottle come to life by using a hand-held device. The wine’s retail price is around £8, which makes it an affordable but not cheap option, representing good value for money.”
Other examples include Haig Club Clubman, which targets millennials through its distinctive square blue bottle design, and Gik Live blue wine, which takes a striking aesthetic approach to set it apart from standard wine. Online tools and social media are key elements of Gik Live’s marketing strategy,