Drink sales dip as 'festive hangover' kicks in
Figures from the latest Daily Drinks Tracker from CGA by NIQ revealed drinks sales across managed venues by value in the seven days to Saturday 13 January were 7% behind the same week in 2022.
Steep drops
While trade was up 7% year-on-year on Sunday 7 January, sales were down on each other the other six days of the week, with notably steep drops on Thursday 11 January (down 10%), Friday 12 January (down 11%) and Saturday 13 January (down 9%).
The downward spiral followed much stronger numbers at the end of 2023 and beginning of the year, with sales up between 7% and 25% the in previous two trackers.
Category wise, the tracker showed a decline in sales for all of the main drinks categories measures, including beer (down 3%), cider (down 0.3%), wine (down 4%) and soft drinks (down 6%).
Tougher conditions
Spirits—the category that is most exposed to consumers’ reining in their spending after the festive period—saw sales tumble 22% year-on-year.
CGA by NIQ managing director UK and Ireland Jonathan Jones said :“It was a good Christmas and New Year for many pubs, bars and suppliers, but the hangover has now kicked in.
“This week’s wintry weather has made for tougher conditions, but the big question now is whether this is a short blip as consumers regain their spending confidence, or a sign of challenges to come in 2024.”
