Diageo, the spirits giant, is shifting its long-standing strategy by selectively selling off brands. The industry is watching closely to see whether this pivot will strengthen Diageo’s future or mirror the struggles of American food conglomerates.
Alcohol manufacturers, retailers, and foodservice segments have a lot to worry about heading into the new year, with Dry January and Surgeon General advisories advocating for sober-curious lifestyles. Time will tell if these movements make an impact.
“Gen Z is tapped in, and they see the negative impact alcohol can have on their lives,” said Michelle Houston, founder of the To Be Honest Beverage Company.
Less people are participating in Dry January this year, but data suggests that’s because drinking less alcohol is now on-trend year round.
The low- and no-alcohol trend has only heated up in recent months, according to one industry expert.
Consumers are looking to create entertaining experiences at home, and retailers should emphasize premium alcohol products as a result, IRI says.
