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Cocktails continue to rise in the US
Both the value and volume of cocktail sales in the US on-trade increased in the last quarter of 2023, according to the latest data from CGA by NIQ.
The data reveals that across Q4 of last year, there was a 5% year-on-year increase in cocktail value velocity, and a 6% increase in the average number of cocktails sold at venues (1,192). Nevada, home to casino capital Las Vegas, is still leading the way when it comes to sales, selling more than twice as many cocktails as the US average.
The average national price of a cocktail has also increased by a dollar from where it was in Q4 2022, rising to US$13. On average, the drink to command the highest price was the tiki bar classic, a Mai Tai.
As for what consumers are ordering the most, the Margarita remains the dominant cocktail choice, making up more than a fifth of total cocktail sales, followed by the Martini and Moscow Mule.
Indeed, the rise of Tequila continues, with the agave-based spirit making up 34.1% of cocktail base sales by value, a 1.8% year-on-year increase. Meanwhile, vodka’s share declined by 1.3% to 28.2%. Perhaps surprisingly, wine-based cocktails now appear to be bigger than ones incorporating rum, with the former increasing by 1.2% to have a 6.8% share.
Matthew Crompton, CGA by NIQ’s regional director for North America, commented on the findings: “After an excellent final quarter of last year, the cocktail category is well placed for more good growth throughout 2024. While some cocktail choices like the Margarita remain evergreen, this part of the market never stands still, with subtle but significant shifts in consumers’ preferences.”
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