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Friday 29 August 2014

Wine still favourite as consumers tighten their belts

22nd May, 2012 by Martin Crummy

Wine remains the most popular choice of drink in the UK but consumers are still most likely to cut back on going out to eat or drink in order to save money, according to a poll commissioned by the WSTA.

The Populus poll found that 38% of the public drink wine on a weekly basis, compared to 32% for beer. What¹s more 81% of drinkers had tried wine, ahead of beer (71%) and spirits (72%).

But the survey also found that the economic crisis has had an impact on consumer spending habits, with 77% saying they have made cut backs over the past few years. With 80% of respondents saying they have seen alcohol cost rise in the past 2 years, activities such as eating out (79%) and going to the pub (59%) were two areas where consumers had cut back already.

With less cash available 72% said they would spend less on eating out, 69% said they would spend less on going to a pub or bar.

Generally, consumers still had concerns about the state of the economy with nearly half of respondents (49%) predicting the economy to worsen over the next year and only 15% expecting to see an improvement.

However, despite the tough economic climate, the study also showed that the most important factor for consumers when choosing wine was whether they knew or liked it. 67% of respondents regarded this as the most important factor when choosing a wine, slightly ahead of it being on special offer (64%).

Commenting on the survey, Gavin Partington, Interim Chief Executive of the WSTA said, “Wine continues to be the most popular choice amongst drinkers but the tough economic times continue to have a real impact on consumer spending. While price and promotion remain important factors in determining what people buy it¹s interesting that a greater number say it¹s more important to have a wine they know they like.”

“This suggests the industry has a challenge to persuade consumers to be more adventurous and try something different.”

“The full results of the survey are available on the WSTA Stand (i36) at the London International Wine Fair.”

 

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