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Below is a brief excerpt from a complimentary research note written by our Consumer Staples analysts Howard Penney and Daniel Biolsi. If you are an institutional investor interested in accessing our research email sales@hedgeye.com |
A survey of on-premise dining trends, Nielsen contacted 1,600 adults in Texas, Florida, New York, and California.
36% of them have gone out for a meal in the past two weeks. According to Nielsen, the most popular drink among respondents is red wine at 23%.
This was followed by white wine at 20%, vodka at 19%, and whiskey at 19%. Domestic non-craft beer is the fifth most popular drink at 18%, while craft beer and imports were both at 16%.
Just 9% of respondents said their visits to bars and restaurants included hard seltzers.
In comparing March and April 2020 with the same two months in 2019, hard seltzer buyers in the off-premise channel decreased their share of spending on beer and wine, with beer losing 5.6 share points and wine losing four share points among this consumer group, while spirits were relatively unaffected. Perhaps when on-premise re-opens further hard, seltzer’s share gains will slow.
In the off-premise channel, hard seltzer’s growth has been nothing short of remarkable, with the growth of 248% in the week ended June 13, as seen in the chart below.
