Declining drinks sales show consumers remain 'hesitant' with spending
According to the data, average drinks sales by value in managed venues in the week to Saturday 24 February slipped 5% below the equivalent period in 2023.
The figures indicate some drinkers remain “hesitant” about spending, CGA said.
In addition, CGA’s Consumer Pulse recently revealed two thirds (67%) of adults still felt either severely or moderately impacted by the cost-of-living crisis.
Tough comparisons
Drinks sales were down on each of the seven days, notably on Thursday (22 February), when heavy rain swept in and pushed sales down by 15%.
In addition, trade showed steep declines on Friday (23 February) and Saturday, with sales having dropped by 7% and 3% respectively.
However, some days last week suffered by comparison to the same days in 2023, which were boosted by big European football matches involving English teams.
Attributed to wet weather and tough year-on-year comparatives, the negative numbers followed three weeks of flat sales or slight growth, despite “strong” trade on Valentines Day.
Category wise, beer and cider performed best, with sales down by just 1% year-on-year, while wine and soft drinks saw drops of 3% and 9% respectively.
Special occasions
The spirits category (down 15%) continued to be hardest hit, lagging well behind the levels of last year.
CGA managing director UK & Ireland Jonathan Jones said: “Our Daily Drinks Tracker shows trading conditions in pubs and bars remain challenging.
“Despite an easing of some cost pressures, many consumers are still keeping a very close eye on their spending.
“A strong Valentine’s Day was a welcome reminder that people are still keen to head out for special occasions, and with St Patrick’s Day and Easter nearing, suppliers and operators will be hoping March is a brighter month than January and February.”
