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Insight of the Day: A Sip of Sheconomy: 3 Drink Trends to Watch in an Increasingly Women-Owned World

Findings:

  • Yelp’s 2023-2024 trend report highlights a rise in women-owned businesses, dubbed the “sheconomy,” with a 17% increase in new openings across various sectors, especially in food and beverage.

  • Three emerging drink trends: book bars, multicolored matcha drinks, and “sleepy girl mocktails.”

Key Takeaway: Women-owned businesses are growing rapidly, shaping new trends in hospitality, food, and drink, while female-focused communities like BookTok influence spaces where women gather and socialize. These trends reflect a mix of culture, health, and community interests.

Trends:

  • Book Bars: Searches for book bars increased by 102%, driven by BookTok and a rise in romance literature, offering cozy environments for women to socialize.

  • Multicolored Matcha Drinks: Searches for orange matcha spiked 595%, with other flavors like strawberry, blueberry, and lavender also growing in popularity.

  • Sleepy Girl Mocktails: A TikTok trend featuring magnesium and tart cherry juice as a sleep aid contributed to a 74% increase in magnesium searches.

Consumer Motivation: Women, especially those participating in online communities like BookTok, are seeking spaces that combine socializing, wellness, and personal interests. Health-conscious behaviors, especially those focused on natural remedies like magnesium and antioxidant-rich drinks, are a significant driver behind beverage trends.

What’s Driving the Trend:

  • The rise of women entrepreneurs and female-oriented online communities.

  • The desire for holistic health solutions like mocktails for sleep and functional beverages (matcha and magnesium-based drinks).

  • Solo dining trends and a preference for curated, community-driven spaces such as book bars.

People Referred to in the Article:

  • Rachel Yon Choi, Behavioral Analyst at Canvas8: Discusses the connection between BookTok and the rise of book bars.

  • Lena Bakovic, Registered Dietitian: Offers insights into the health benefits of magnesium and tart cherry juice.

Description of Consumers’ Product or Service:

  • Book Bars and Bookstore Cafes: Catering to book lovers and solo diners, with an emphasis on female patrons seeking a community space.

  • Multicolored Matcha Drinks: A colorful, trendy twist on matcha appealing to wellness-oriented individuals.

  • Sleepy Girl Mocktails: Health-conscious consumers seeking natural sleep aids, popularized by social media.

Consumer Age: The trends appear to be driven by younger women, particularly those active on social media platforms like TikTok, with an interest in wellness, community spaces, and functional beverages.

Conclusions:

  • Women-owned businesses are thriving, particularly in the hospitality and wellness sectors.

  • Emerging drink trends reflect consumer desires for functional, health-focused beverages and community-driven spaces.

  • Social media, especially platforms like TikTok and BookTok, play a crucial role in shaping consumer habits and business trends.

Implications for Brands:

  • Brands can capitalize on these trends by offering products or services that cater to women and wellness-focused communities.

  • Creating spaces that promote socialization, like book bars or bookstore cafes, could attract customers looking for niche, community-driven experiences.

  • Emphasizing transparency in health benefits for trending drinks like matcha and mocktails can build trust with consumers.

Implications for Society:

  • The rise of the sheconomy highlights the growing influence of women entrepreneurs, reshaping local economies.

  • Female-centric spaces, both online and offline, foster community and connection, reflecting broader societal shifts toward inclusivity and community-building.

Implications for Consumers:

  • Consumers, especially women, are increasingly seeking spaces and products that offer both community and wellness benefits.

  • Health-conscious trends, like the sleepy girl mocktail, demonstrate a shift toward natural, functional beverages that promote well-being.

Implications for Future:

  • The influence of women-owned businesses is likely to continue growing, especially in sectors tied to hospitality, wellness, and community experiences.

  • Trends like BookTok and sleep-enhancing mocktails signal a future where social media continues to heavily influence consumer choices.

Consumer Trend:

  • Wellness-focused and community-oriented spaces, like book bars and matcha cafes, are growing, especially among younger women.

  • Functional, health-conscious drinks, such as multicolored matcha and sleepy girl mocktails, are becoming more popular.

Consumer Sub Trend:

  • Solo dining and individual experiences are gaining traction, with consumers looking for spaces like bookstore cafes that cater to their personal interests.

  • The desire for holistic, natural sleep solutions, such as magnesium-enhanced drinks, reflects a health-first mindset.

Big Social Trend:

  • The rise of the “sheconomy,” driven by the growth of women-owned businesses and female-focused spaces, is creating new economic and social dynamics.

Worldwide Social Trend:

  • Social media-driven communities, such as BookTok and TikTok, are influencing global consumer behavior, particularly among younger demographics seeking both community and wellness.

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