Millennial Consumers Willing to Spend More on Alcoholic Beverages

SCHAUMBURG, Ill. — Shoppers ages 21-30 are willing to pay a premium for alcoholic beverages, according to a new study by the Nielsen Co. here. It found that these so-called Millennial consumers also frequently seek out new tastes and have influenced a clear shift in alcoholic beverage preferences. Ten years ago, beer accounted for 59% of the 21- to 30-year-old age group’s alcoholic beverage spending, but this number has declined to 47% as wine and spirits purchases made by Millennial consumers have grown. Meanwhile, wine and spirit preferences are growing at a much slower rate in the 31 and older age group, where there has been a 6% gain during the last 10 years. Still, when it comes to dollar sales, beer represents the majority of Millennial consumers’ alcoholic beverage spending (47%), followed by spirits (27%) and wine (26%). “The Millennials are primed to be an extremely influential group,” said Richard Hurst, senior vice president of Beverage Alcohol at ACNielsen, a service of the Nielsen Co., in a statement. “At the beginning of their careers, Millennials are discovering the world and have control over their money and time in ways their predecessors never did.”

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