Cocktail Culture Consumer Report 2024: Industry Insights, Consumer Drivers, Brand Challenges and Innovation Landscape Featuring Emperical, Frito-Lay, Bacardi, and Aldi [Yahoo! Finance]
PepsiCo, Inc. (PEP)
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Source: Yahoo! Finance
In 2024, cocktail culture has been influenced by relatively recent developments-the craft craze, COVID's elevation of home-based indulgence and entertaining, increased RTD product diversity and sophistication, and the emergence of a more experiential, quality- not quantity-focused Generation Z consumer base-contributing to a further potential growth in relevance relative to other forms of alcohol, particularly in the premium indulgence space. So-called cocktail culture is a historic trend that has undergone several movements over more than 200 years. In the 21st century, it has benefited from the craft alcohol movement and demand for premium experiences. The pandemic, however, proved a watershed, fueling a growth in interest in at-home mixology alongside boosting demand for, and innovation, in ready-to-drink (RTD) cocktails. Scope Cocktails have always occupied a premium space, financially and in perception. They are based on an elevated experience, bringing in diverse ingredie
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