Recent data from consumer intelligence company Nielsen offers some interesting insight into cocktail trends of late. While there has been a 13 percent jump in overall cocktail sales over the last quarter, it turns out that the boost is entirely driven by afternoon and early evening drinking. In fact, the report showed that late-night drinking is actually down 9 percent year-over-year and all evidence points to the notion that the “early bird economy” is booming.
The Nielsen report goes on to say that people are limiting their bar and restaurant visits to Fridays and Saturdays, leaving establishments to figure methods of pulling weekday warriors back in for business. Shortly after Covid-19 lockdowns were lifted, there was a rush back to bars, but at the same time, people are much more comfortable with staying in, especially given the price hikes of the early 2020s. Consequently, the influence of FOMO is waning and people are becoming more skilled at-home bartenders. Why spend $16 dollars on a Daiquiri when you can make an equally decent one at home for a fraction of the cost?
On this episode of the “VinePair Podcast,” Adam, Joanna, and Zach discuss the Nielsen data that shows that people are going out earlier in the day and concentrating their drinking on the weekends. What are bars and restaurants supposed to do in the early bird economy: Can they create more demand for later seatings with new promos and late-night happy hours, or do they just have to concentrate on the times and days when people want to go out now? Tune in for more.