On premise velocity is trading up versus previous years, largely due to higher average check values. Consumer confidence is soaring with nearly 3 in 4 consumers having returned to the on premise. Consumers are ready to reconnect, celebrate and treat themselves.
Stock-up behavior appears to be tapering off and alcohol is experiencing negative growth rates in retail versus 2020. However, dollar sales remain far above the norm from 2019 as premiumization and at-home consumption continues.
eCommerce growth is expected to continue with nearly half of consumers shopping more online in 2021. The convenience and fast delivery times has made online shopping a more regular habit, particularly as retailers have accelerated investments in online infrastructure.