Why drinks producers should raise their music festival presence
In California, Florida, New York and Texas, people are planning to consume more drinks at music festivals than in restaurants and bars.
In the recent CGA On Premise Impact Report, the findings revealed that 46% of consumers were likely to visit an outdoor music festival/concert in the next five months and 57% of them would drink more at those events than in bars and restaurants.
Bars and restaurants still retain their allure when it comes to experimenting with new drinks however and, in terms of trying something new at least two in five people admitted they were more likely to try drinks for the first time while out in bars compared to in stores.
Interestingly, when it came to such trials, almost four in five people opted for cocktails, showing that there is still headroom for the pre-mix cocktail and spirits market to grow, either via the on-trade or by having some kind of presence at music festivals and concerts.
The data showed that 43% of consumers had still been out to drink in bars and restaurants in the past two weeks and 72% had chosen to got out to eat in bars and restaurants too, showing that the industry is coming back to life.
The research from CGA identified how the on-trade sector’s sales growth was up 4% in the latest week (week ending 15 July compared to the same time last year), driven by a 2% increase in both traffic and a 2% lift in cheque value.
According to the findings, on-trade sales in the Florida were up 4%, while in New York they were up 3% compared to last year, making both Florida and NYC the best-performing states while Illinois saw its bar and restaurant sales drop 6% compared to 2022 figures.