Findings: New Zealand consumers are increasingly seeking quality and taste when choosing premium drinks in On Premise settings, such as bars and restaurants. While they are willing to switch to premium brands, they prefer familiar options and need a clear justification for higher prices.
Key Takeaway
Premium brands must emphasize their unique qualities, craftsmanship, and ingredients to justify their price and attract consumers. The opportunity for premiumisation is most pronounced in fine dining, special celebrations, and food-led occasions.
Trend
Consumer Trend: Consumers are prioritizing quality over quantity, leading to premiumisation in drinks categories in On Premise settings.
Consumer Sub-Trend: Preference for familiar premium brands, reluctance to experiment with unfamiliar options.
Consumer Motivation
Consumers are motivated by a desire to indulge in premium experiences for special occasions, pairing their drink choices with food in fine dining settings or during celebratory moments. However, caution in trying new options shows that they seek value and reassurance when spending on premium products.
What is Driving the Trend
The trend is driven by increasing consumer expectations for quality, the desire for indulgence during special occasions, and the growing importance of food and drink pairings in formal and fine dining venues.
Who the Article is Referring To
Demographic: Consumers in New Zealand who prioritize high-quality experiences, especially in the context of fine dining, special celebrations, and romantic meals.
Age: Likely adult consumers, with a strong focus on those attending formal dining venues or celebrating special occasions.
Description of Consumers’ Product or Service
Product: Premium drinks (e.g., high-end wines, spirits, and cocktails) served in On Premise settings such as fine dining restaurants, bars, and formal venues.
Conclusions
Premium brands have a significant opportunity to grow by showcasing the quality and craftsmanship of their products in environments where consumers are most likely to indulge. Brands that collaborate closely with venues, train staff, and offer food-pairing strategies will have the best chance of success.
Implications for Brands
Brands must emphasize what makes their premium products special—whether it's ingredients, craftsmanship, or storytelling. Success will also depend on their ability to collaborate with venues and educate staff to engage consumers at the point of sale.
Implications for Society
As premium products become more sought after, there is a growing expectation for higher quality, not just in terms of product, but also in the overall experience that accompanies it (e.g., how it’s served and paired with food).
Implications for Consumers
Consumers are looking for justification in the higher price of premium drinks, making storytelling, education, and product quality essential. Their cautious approach to new drinks suggests a focus on familiarity and trust.
Implications for Future
The trend of premiumisation in New Zealand’s On Premise sector will likely continue as consumers seek more curated, high-quality experiences, especially for special occasions. Fine dining and celebratory events are key drivers.
Consumer Trend
Consumer Trend: Increasing demand for premium drinks during food-led and special occasions.
Consumer Sub-Trend: Caution when experimenting with new or unfamiliar premium products; preference for sticking with trusted options.
Big Social Trend
Big Social Trend: The premiumisation of food and drink experiences, with an emphasis on quality, craftsmanship, and experience-driven consumption.
Local Trend
Local Trend: In New Zealand, the growing importance of food and drink pairings, particularly in fine dining and formal settings.
Worldwide Social Trend
Worldwide Social Trend: The global shift toward premiumisation in both food and beverages, where consumers are willing to pay more for high-quality, artisanal products that offer an experience beyond basic consumption.
Name of the Big Trend Implied by the Article
Big Trend: "Premiumisation of On Premise Drinks Experiences"
Name of Big Social Trend Implied by the Article
Big Social Trend: "Experience-Driven Premium Consumption"
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