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Insight of the Day: Tequila Sales Keep Ticking Up in 2024

Key points from the survey on tequila sales in 2024:

1. Tequila Impact: Tequila is identified as the category most impacting the business, both in on-premise and off-premise settings, according to the survey conducted in January 2024. This suggests that tequila continues to be a significant driver of sales and consumer interest in the beverage industry.

2. Other Impactful Categories: Following tequila, whiskey emerges as the next most impactful category. However, it is tied with craft beer among on-premise respondents. Conversely, clearly domestic beer is noted as experiencing a sales decline that significantly impacts the business across both segments.

3. Consumer Trends and Buzz: Despite challenges in the beer category, craft beer is generating the most buzz currently, particularly in on-premise establishments. IPAs and lagers are identified as the most popular beer styles among respondents.

4. Sales Performance: A plurality of on-premise operators reported that their most recent quarterly beverage sales met their plan, with a notable percentage expressing optimism that sales in 2024 will exceed expectations. In contrast, off-premise respondents were slightly less optimistic about sales performance for the year.

5. Optimism Levels: On-premise operators exhibit a higher level of optimism regarding sales performance in 2024 compared to their retail counterparts. More on-premise respondents anticipate sales exceeding expectations this year.

Overall, the survey highlights the continued significance of tequila in driving sales and consumer interest in the beverage industry, while also shedding light on trends and sentiment across various beverage categories.

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