Alcohol and ready-to-drink beverage markets are expanding globally
Revenue in the global alcohol industry amounted to US$1.6 trillion in 2023 and is forecasted to reach a new peak of US$2 trillion by 2027. The thirst for convenient, ready-to-drink (RTD) beverages has also grown fast in the past few years, with worldwide consumer spending expected to surpass US$1 trillion by the end of 2030.
However, this global revenue growth means increasing competition in an already crowded beverage landscape. More alcoholic beverage brands enter the market each year, driven in part by new growth in the RTD category; in 2020, fewer than a thousand new spirit-based RTD beverages were introduced in the US, which accelerated to more than 1600 in 2022.
Alcohol and beverage brands can leverage digital out-of-home to reach target consumers
In today’s crowded digital ad landscape, out-of-home advertising continues to capture consumer interest. Recall rates for OOH ads from alcoholic beverage brands are amongst the highest, with 64% of Americans 21 or older saying they remembered a specific placement.
Further reinforcing the power and potential for DOOH to drive real-world actions, a recent OAAA and Harris Poll survey revealed that nearly 80% of those US viewers who noticed OOH advertisements for alcoholic beverages were then inclined to engage in some manner: 52% made a subsequent purchase at a retailer’s location, 34% visited the location or retailer’s website, and 33% shared info by word of mouth.
Check out our infographic for unique ways alcohol & beverage advertisers can leverage DOOH to raise brand awareness, amplify buzz, drive seasonal sales, and expand the reach of omnichannel campaigns.
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