It’s Cocktail O’Clock for Millennials

on 30/01/11 at 12:38 pm

Industry

As the economy picks up, the millennials are starting to celebrate with friends and let’s just say they are not opposed to bottle service or running up bar tabs on vodka martinis.

In fact, those in the 21-to-34 age group are more likely than any other group to trade back up to more expensive alcohol beverage brands, finds a Nielsen study which concludes that beverage companies will want to tune into this “large and influential generation” of drinkers, who are also more likely to pay a steeper price for quality beverages, the study shows.

Over the next decade, the millennials will make up 40 percent of the 21 and older drinking population—and while the majority of this demographic prefers beer, they buy more wine and spirits than previous generations, which tended to shift to martinis and pinot noirs later in life.

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