With consumers staying home amid the pandemic, many shifted to new, pricier alcohol brands and bigger bags of candy, Beam Suntory and Mars Wrigley execs said.
Ready-to-drink cocktails have also seen a boom as drinkers want that at-home bar experience without the work.The Covid-19 pandemic significantly changed consumer behavior from where they shopped to what they bought.
Spence said that resulted in a lot of consumers moving to higher-priced brands or "premiumization," a trend that has continued. She also noted the boom in e-commerce sales, especially in the U.S., where online shopping for alcohol has lagged in the past. Among online buyers of alcohol in the U.S., 54% said they made their first purchase during the pandemic, according to spirits industry market analysis firm IWSR.
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