Convenience sales of prepared and ready-to-drink (RTD) cocktails continue to be a boon for convenience retailers, outpacing all other channels in sales and units sold across the first half of 2022 year over year. Despite the widespread reopening of bars and restaurants in 2021 and 2022, consumers continue to show they favor enjoying prepared and RTD cocktails at home or at gatherings with family and friends.
Prepared and RTD cocktail sales in convenience increased from $206.1 million in the first half of 2021 to $280.5 million in the first half of 2022, a gain of 36.1%. In comparison, sales of those same subcategories improved by 11.0% in all other channels across the same year-over-year period. Similarly, unit sales surged by 26.4% in convenience, while moving to the upside by only 5.1% in all other channels during the first half of 2022. Whether it’s kicking back at home or a quick trip to grab something to bring to a gathering, consumers are choosing convenience for a variety of libations.
The strong performance in prepared and RTD cocktails is also noteworthy as some of the closest substitutes for these products, alcoholic cider and alcoholic seltzer, saw sales decline in the first six months of 2022 relative to 2021, falling by 2.2% and 4.9%, respectively.
Convenience shoppers appear to be increasingly turning to their favorite cocktails in an easy-to-consume format rather than alternative alcoholic beverages.
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