Experience-Seeking Millennials Are Shaking Up The Beer Industry

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing

As trends like moderation and cannabis take more of young consumers’ pocket money out of the hands of beer brands, some are betting on innovative new brews, like a half-beer, half-wine hybrid…

Problems continue brewing for the beer industry. The Wall Street Journal reports that U.S. beer volume was “sharply lower” for the first quarter of last year compared to 2017 for three major brewing companies: Molson Coors Brewing Co., Heineken NV, and Anheuser-Busch InBev SA, which reports that beer consumption among 21-27-year-olds has dropped from 67% in 2006 to 43% in 2016. Craft beer sales are also on their way to stalling out as the market becomes oversaturated, and according to the Washington Post, the once-niche industry’s boom has slowed down as new competitors and major brands alike buy in. Millennials’ drop in consumption is also being attributed to an increased interest in moderation as they seek healthier lifestyles and wind down with alternative substances (ahem, weed), per AdAge.

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketingBut that doesn’t mean Millennials aren’t drinking—they just have more options than ever and are choosing beverages that give them an experience, not just a buzz. Our Nightlife & Drinking Topline finds that 48% of 21-36-year-olds drink alcoholic beverages weekly or more often, with those who drink favoring craft beer as one of their favorite beverages and spending about $45 each week on alcohol on average. To win a share of their weekly allowance though, brands can’t bank on legacy products. Instead, those taking up mindshare are behaving like mad scientists, and Magic Hat, with their reputation for experimentation, is leading the way. The results can be hit or miss (they’ve learned not to throw garlic in the barrel), but it turns out young consumers’ penchant for new experiences applies to food and…

 
 

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Quote of the Day:  Millennials have grown up in a world where consuming wine outdoors—or any location outside of the traditional table—is more acceptable than generations past.”—Kate McManus, VP of Marketing, Delicato Family Wines (Wine Spectator)

Young consumers are “killing the shopping spree.” Whether they’re signing up for the growing number of clothing subscription services (Rent the Runway, Le Tote, Urban Outfitters, etc.), shopping second-hand, or just culling their closets—young shoppers are quitting fast fashion in droves. Some are inspired by Marie Kondo’s joy-sparking brand of minimalism, while others want to help the environment—and still others are just seeking a wide range of things to wear at a lower price. (Vice)

Airbnb is launching “adventures” for experience-seeking young travelers. The site that started with accommodations and moved into one-off “experiences” (like dinner parties) now offers multi-day excursions, complete with guides, gear, meals, and accommodations. The platform already features over 200 trips in 40 countries, including a tiger-tracking expedition in Kenya and a trek through the canyons of Oman. (Fast Company)

Tyson Foods is taking on the fake meat market with plant-based nuggets. The pea protein nuggets are the first in a line of “Raised & Rooted” products from Tyson Foods. The brand's CEO explains they’re catering to the “growing number of people open to flexible diets that include both meat and plant-based protein”—aka young flexitarians, not full-time vegans. But can a company known for its meat sell the idea that “this [trend] is about ‘and’—not ‘or’”? (The Verge)

Snapchatters can shop Levi’s new Pride Month jacket via selfie filter. The Shoppable feature is first enabled by scanning a QR code found at select stores or by getting a special Snapcode from a friend. Then, users can try on the special-edition trucker jacket via augmented reality, customizing it with one of two washes and a selection of six pins and patches. Once they complete the look, users can purchase the Pride Month Jacket—without ever leaving the app. (SJ)

Amazon’s new Echo Dot Kids Edition revamps the original. The new smart speakertakes many cues from the adult version’s second generation (it’s louder and rounder) but adds special features just for kids that go beyond a rainbow-striped color scheme. The device will come with a year of FreeTime Unlimited, a subscription service that includes popular Alexa skills like Pinkfong’s Baby Shark Adventures, as well as an enhanced parental control suite to address growing privacy concerns. (VarietyCNET)

Quote of the Day: “Young people still have an incredible interest in the Olympic Games…But the way they are consuming the Olympic Games—the type of content they are watching and the ways and the platforms on which they are watching—are fundamentally changing.”—Kit McConnell, Sports Director, International Olympic Committee (Bloomberg)

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