The New Alcohol Industry

The alcohol industry has been on a rollercoaster ride for the past decade or so, with new trends and a changes in consumer preferences pushing the role of alcohol in our lives to the back burner. However, research shows as the world opened up, the North American region has rediscovered its sense of adventure. Consumers’ motivation to get out there and make up for lost time has increased, making way for new trends that will only accelerate throughout this decade.

The alcohol industry is influenced by many factors–like the economy, popular culture and lifestyle trends. Because of this, it’s also an industry that can adapt to any type of change, given the right business model and objectives. Alcohol delivery sales are a prime example of how an entire business model can be shifted to encompass changes in society, culture, and even legislation.

Here are four important trends to consider in the alcohol space in 2023:

Low-Alcohol Bar
Nightlife and alcohol have been an inseparable couple for centuries, but there is a new trend emerging: the sober nightlife experience. As people are becoming more conscious of their health and wellbeing, more companies have are offering sober or low-alcohol spaces that cater to non-drinkers, or anyone who is looking for alternatives to traditional nightlife activities.

Summer Cannabis
Cannabis brands are no longer just targeting products for indoor use, and have set their sites on summer activities by creating cannabis brand gear and products with warm-weather themes and benefits. Cannabis companies were some of the first to explore a wide range of non-traditional cannabis product formats. From edibles to beverages, beers, and spirits–cannabis companies have been on the forefront of enhancing customers’ product experiences.

Alcohol Tech
Technology is being used to advance alcohol production and serving experience. Brands in this space have to keep up with shifting consumer demands in the digital age. From AI-generated gins to bioengineered whisky, the industry's exploring tech that will change how consumers think about drinks. Moreover, technology also allows them to respond quickly to market demand and make adjustments if needed.

Alt Nightclub
There has been no shortage of digital events since the COVID-19 pandemic began, and the nightclub industry is no exception. The concept of virtual event spaces is simple, but it's a radical departure from the traditional nightclub experience. From virtual nightclubs to club venues converted into galleries, the world of nightlife was transformed since the pandemic, and has continued to evolve since then.

Takeaways
Whether the changing tides in alcohol consumption patterns will be a long-term trend remains to be seen, but there are plenty of signs that the industry is moving in a healthier direction. People’s recreational preferences have evolved, and their choices in alcohol are evolving with them. Brands that are able to quickly adapt to this shifts in consumer
behaviour have an advantage in this space. The trends highlighted in this article are prime examples of the different ways that alcohol brands can cater to the modern consumers’ social and recreational habits.

For more on the New Alcohol Industry, check out Trend Hunter’s 2023 Trend Report.