• Fri. Oct 11th, 2024

Dry January Is A Thing And Growing Annually, Just Ask 75% Of Your Fellow Americans

ByMaureen Meehan

Jan 3, 2023
Dry January Is A Thing And Growing Annually, Just Ask 75% Of Your Fellow Americans

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New research from consumer insights platform Veylinx suggests that abstinence events like “Dry January” are more than just a social media fad. More than three-quarters of Americans say they’ve temporarily given up alcohol for at least a month in the past. Almost half of drinkers are trying to reduce their alcohol consumption right now and 52% of them are replacing alcohol with non-alcoholic beverages including CBD drinks. Consumers said improving their physical health and mental well-being are the main reasons for drinking less.

“Driven by younger consumers, the non-alcoholic beer, wine and cocktails category is surging in popularity. People trying to cut down their drinking are finding more and more alternatives on retail shelves and in bars and restaurants,” said Anouar El Haji, CEO of Veylinx. “Our research found that they’re willing to pay premium prices for non-alcoholic versions of ready-to-drink cocktails. The rise of the ‘sober curious’ movement gives brands countless opportunities for growth in this segment.” 

Veylinx, which uses behavioral research to measure consumer purchasing habits, tested the fast-growing non-alcoholic canned cocktails market to learn who is buying these drinks and why. The study also measured demand for versions enhanced with functional benefits like mood boosters, detoxifiers and CBD.   

Overall, people who currently drink alcohol are actually willing to pay more for non-alcoholic canned cocktails than non-drinkers. And people who say they want to reduce their alcohol intake do indeed show stronger demand for non-alcoholic cocktails. 

CBD, Mood Boosters And Other Variations

Among the canned non-alcoholic cocktails tested, CBD and mood boost versions perform best, while natural detox and zero-calorie variations lag behind. Adding CBD to a $12 four-pack of non-alcoholic canned cocktails increases demand by 13%, and adding natural mood boosters increases demand by 9%. 

Younger Consumers Driving the Trend

Demographics and consumption habits impact demand: 21-35-year-olds, light drinkers and those who’ve previously given up alcohol for a month or more show the greatest demand. Younger consumers, in particular, are the most interested in all of the non-alcoholic concepts.

  • Demand for non-alcoholic canned cocktails is 48% higher among 21-35-year-olds than people over 35. Spiking drinks with CBD boosts demand by 18% among young adults. 

  • The mood boost version—blended with natural adaptogens and nootropics—drives the highest demand among those over 35s, generating 29% greater demand than the standard non-alcoholic version. 

 

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Image and article originally from www.benzinga.com. Read the original article here.