The survey was conducted by Ierax Analytix for FOOD EXPO and exclusively presented during the 1st International BEVERAGE SUMMIT by Market Analyst & Founder of Ierax Analytix, Haris Lalatsis and reveals interesting insights related to companies operating in beverage retail.
According to the research, the top three beverages in sales are water/sparkling water (74%), cola-type soft drinks (66%), and juices (62%). The high demand for water and sparkling water indicates the growing preference of consumers for healthy choices. Cola-type soft drinks and juices remain popular, showing the variety in consumer preferences.
When asked “who decides the changes made to the beverage category codes,” it was mentioned that 83% of the changes in codes are decided by the store manager. This shows the importance of the managerial position in making decisions about the products offered to consumers.
Additionally, the most important criterion for selecting beverages placed in stores is the popularity of the products (57%), followed by cooperation with suppliers/producers (22%). The popularity of products indicates the need to respond to consumer preferences, while cooperation with suppliers shows the importance of collaborative relationships.
41% of the fastest-growing beverages in sales are juices, 36% are soft drinks, and 23% are water. The increasing demand for juices indicates a shift towards healthier choices, while soft drinks and water remain consistently popular.
The biggest problem in managing/selling beverages is high prices (69%) and competition (13%). High prices indicate the need for economic sustainability, while competition shows the tense market environment.
For consumer preferences, retailers are mainly informed by sales (87%), but also by partners/suppliers/distributors (22%). Monitoring sales shows the need for continuous information and adaptation to consumer trends.
According to retailers, consumers are quite informed (61%). This shows that consumers have access to information and are aware of their choices.
The use of modern marketing tools for promoting beverages, according to them, is limited. This indicates the need to improve marketing strategies.
In cooperation with producers/importers, 57% are satisfied, and with distributors, 75%. The high satisfaction with distributors shows the success of this cooperation, while cooperation with producers/importers has room for improvement.
Regarding taste tests, 83% state that they have not done a taste test for any beverage in-store.
When asked if they could change something in the beverage sector tomorrow, 52% would like lower prices/higher profit margins, 22% better packaging, and 13% better quality. The emphasis on reducing prices and increasing profit margins shows the need for economic sustainability and competitiveness.
The strongest trend at the moment for the development of the beverage category is healthy beverages (67%), followed by energy drinks with only 14%. The increasing demand for healthy beverages indicates a shift towards healthier choices by consumers.
The research by Ierax Analytix reveals a dynamic and competitive beverage market, where consumer preferences and production quality play a crucial role. Retail companies must adapt to new trends and invest in technology and quality to remain competitive. Consumer information and improving collaborative relationships with industry professionals are also critical for market growth.
