Economic Sentiment Among Alcohol Drinkers Was Broadly Weaker in February
According to Alcoholic Beverage DemandTracker, a periodic survey of US adults age 21+ who consume any type of alcohol at least once a week or more, economic sentiment among alcohol drinkers was broadly weaker in February than in November, and is still at very weak levels. Only 13% of alcohol drinkers reported having more spending money recently in February, compared to 16% in November. This compares to 43% of alcohol drinkers in February who say they have had less spending money recently.
Perceptions of, and expectations for, the general economy and job market were weaker in February than November. Only 14% of alcohol drinkers said the current economy was good in February (vs. 17% in November). Only 10% of alcohol drinkers think the current job market is good (vs. 10% in November), and only 23% are expecting the job market to be better in 6 months (down from 27% in November).
Alcohol drinkers were also less optimistic about their own personal financial situation in February. Only 23% of alcohol drinkers are expecting their income to rise over the next six months (vs. 26% in November). Only 16% of alcohol drinkers feel very secure in their jobs in February (vs. 20% in November). And more alcohol drinkers said their spending habits are being negatively impacted by gas prices, 50% in February vs. 47% in November.
“After showing some improvement at the end of 2012, economic sentiment among alcohol drinkers was noticeably weaker in February across many of the factors tracked by Alcoholic Beverage DemandTracker,” said David Decker, President of Consumer Edge Insight. “Most alcohol consumers continue to face a wide variety of economic headwinds that impact their consumption habits. Clients of Alcoholic Beverage DemandTracker gain a deep understanding of how these economic factors are impacting behaviors across different alcoholic beverage categories, and are able to keep a close eye on trends in sentiment.”
ABOUT ALCOHOLIC BEVERAGE DEMANDTRACKER
Alcoholic Beverage DemandTracker provides an in-depth analysis of the key economic and attitudinal factors impacting alcoholic beverage demand. Data for this wave of Alcoholic Beverage DemandTracker was collected in February via an online survey of over 2,000 US consumers, age 21 and over, designed and weighted to be representative of the US adult alcohol-drinking population. Some of the topics addressed include drivers of change in alcohol category consumption, the impact of economic factors and secular trends on overall alcohol consumption and by category, channel behaviors, ways to increase category consumption, and numerous brand metrics. The research covers the beer, spirits, wine, cider, and flavored-malt beverage categories including the largest brands in each category.