Drinks sales remain flat despite strong Valentine’s trade
The latest CGA by NIQ Daily Drinks Tracker showed drinks sales by value in managed venues were 0.1% below the equivalent period in 2023.
It followed growth of just 1% the seven days prior, as detailed in the previous tracker, and four weeks of negative numbers before this.
The tracker showed growth on five of the seven days during the seven-day period, with sales on Valentine's Day (Wednesday 14 February) 9% higher than in 2023.
Cost pressures
However, trade was more muted at the weekend, with sales down 2% on the Saturday
This comes as the most recent Consumer Pulse Survey from CGA by NIQ indicated two thirds (67%) of adults were still either severely or moderately impacted by the cost-of-living-crisis, a month-on-month increase of 6%.
In addition, two in five (40%) of consumers said they went out less frequently in January.
However, CGA by NIQ managing director UK and Ireland Jonathan Joes claimed people are still “eager” to celebrate occasions in pubs, despite cost pressures.
Welcome boost
“Valentine’s Day is always a welcome boost to sales at a quiet time of year, and it delivered a particularly impressive bounce this year.
“It shows that people are as eager as ever to celebrate special occasions in pubs, bars and restaurants, despite all the pressures on their spending”, he said.
Category wise, the drinks tracker showed Valentines Day had made for a positive week for wine, with sales 4% ahead of last year while beer and cider saw uplifts of 2% and 3% respectively.
Soft drinks remained flat against 2023 levels while the spirits category continued a tough start to 2024 with sales down 9%.
