Top 3 Ways the Beverage Industry is Changing

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Top 3 Ways the Beverage Industry is Changing
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• If you need proof of the impact that millennials
  are having on the food and beverage industry,
  heres a story that might provide it for you.
• A lifestyle reporter for the Washington Post
  hosted a holiday party for her spouses employees
  at his law firm (pre-Covid, of course.) As most
  of her husbands staff attending the event were
  comprised of millennials (those born between the
  years of 1981-1996), she wanted to ensure she had
  a liquor and beverage selection that would be
  commensurate with their tastes and preferences.
  She texted a new associate attorney shed come to
  know, a 30-year-old graduate of Georgetowns
  prestigious law school, for ideas of beverage
  selections she should put on the list for her
  shopping expedition.

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• First, he told her, theres no need to go
  physically shopping for the supplies. You should
  download an app like Drizly, and theyll find
  everything and deliver it for you, he informed
  her. Second, he informed her, youll want to make
  sure anything you buy has the ethically bottled
  and sourced stamps of approval, because nearly
  everyone he knew at the firm only consumes
  beverages they know have been humanely distilled
  and prepared. Third, she should try to also
  factor in beverages that had more natural
  ingredients and that was ideally labeled
  organic if possible, especially for mixers,
  he said. And finally, oh and you know, make sure
  it looks good, too.

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• Looks good? she thought. What does that even
  mean? We take lots of pictures of what were
  drinking to post on our IG feed. So, you know,
  more upscale looking bottles and labels, that
  sort of thing, he offered. Whereas past baby
  boomers tended to drink the most dominant brands
  of liquor and beverages and Generation X drank
  whatever was cheapest and easiest to purchase,
  the mysteries of the millennial generation and
  how they choose to allocate their purchasing
  power continue to both abound and astound the
  food and beverage industry, not to mention all
  the rest of the population. But making up 25 of
  the current population means that paying
  attention to and incorporating their preferences
  is a MUST for beverage companies to stay
  progressive and profitable.
• Heres a look at the TOP 3 ways the industry is
  changing to meet those millennial demands.

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Health Conscious

• No generation before has valued a life-long
  commitment to health and well-being to the extent
  that millennials do. A recent Forrester study
  indicates that 9 out of 10 millennials say that
  buying food and beverage products that are
  healthy is a top priority to them, and they put
  their money where their mouth is millennials
  currently account for over half of the organic
  foods purchased today.
• The millennial generation is uniquely conscious
  and aware of everything they put in their body,
  and everywhere they choose to spend their money.

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• They are significantly aware of both the
  ingredients that go into their consumables as
  well as where it came from, how it was produced,
  and how it was packaged. They will often reject
  beverages made with inferior quality or brands
  that dont have a commitment to health and
  humanity.
• What does this mean for the beverage industry?
  Not just a change in what products they offer but
  also how they advertise their products and how
  they prepare them. Health centered beverages like
  Kombucha and other fermented drinks that provide
  an added health benefit were up 21 in sales in
  2020, and even alcohol brands are making the
  pivot.

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• Brands like White Claw have seen an enormous gain
  in popularity due to their tagline Made Pure
  and their legit boast that they are made with
  nearly all-natural ingredients and gluten-free
  alcohol. To stay competitive, beverage brands
  need to act on the millennials commitment to
  health by providing products that speak to this
  preference, and directly address factors like
  natural ingredients, less chemicals, and less
  preservatives.

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Drink Ethically

• The good news about millennials? They are the
  most brand loyal generation in recent history.
  According to Forrester, 80 of millennials will
  stay faithful to a brand, provided that brand
  lives up to a commitment for health and ethics.
  Millennials have increased access to product
  information and how it is prepared and do their
  research. They want to purchase from brands that
  share their commitment to the environment,
  sustainability, and humane treatment of
  employees, animals, and the land.

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• 73 of millennials are willing to pay more for a
  product they know comes from a brand committed to
  sustainability and are much more likely to buy
  from a beverage brand that is transparent about
  their ingredients, how they treat their
  employees, and how they source and create their
  packaging. Know more please visit here
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  ndustry-is-changing/