Latest findings from IWSR show that although stated alcohol spend is falling in many markets, consumer confidence about finances and the future is trending more positive than in 2022. This is especially true of Europe, where consumers show signs of improved sentiment following lows in late 2022.

However, markets are becoming more polarised in terms of price expectations, with a trend in premiumisation continuing for some consumers as others tighten their purse strings. Premium consumption behaviour continues in many markets, but is growing at a more moderate rate than previously. Many consumers are now choosing to drink better quality alcohol less often instead of having to down-trade, using moderation as a money-saving strategy.

Key find shows, on-premise demand is largely holding up in Europe and the Americas, while the relaxation of Covid-19 restrictions in mainland China,Taiwan and Japan, have boosted on-premise visiting intentions. Across key markets, millennials and Gen Z of legal drinking age are driving on-premise visits. Consumers in India and China are amongst the ones most willing to trade-up while in the on-premise. In other markets, going out without drinking alcohol is a popular money-saving strategy, as is opting for cheaper beverage options.

Staying-in and enjoying the at-home drinking occasion has a strong pull in most markets. China is the outlier, with the relieving of lockdown restrictions resulting in a significant increase in going-out sentiment