The executive vice president of Silicon Valley Bank named Rob McMillan asked wine industry that as a renowned industry, where they were heading to. Because according to the social standards, the interest in the beverage alcohol of the consumers are getting lower day by day. Even based on the conversations of US consumers on the beverage alcohol are reduced 18% overall. The rate isn’t even getting matched with the levels of 2018. This reduction has caused a severe concern across the wine industries as their consumers are losing the interest on the beverage alcohol.
Social standards is basically an analytical platform that analyze comparatively among the companies as well as the brands. They convert the conversations of online consumers into marketing information and surprisingly they have found out that the consumers day by day are becoming fickle while the brands are fighting among themselves for the share in this ever-changing marketplace. Besides, the growth of these brands has become relatively flat.
The company has recently released a port that reveals several reasons for the turmoil in the industries of beverage alcohol. According to the findings of the report, there was an increment of 48% in the conversations on health and wellness in beverage alcohol. In addition there was a significant reduction in the conversations which were about the occasions for casual and heavy drinking. Nowadays, the top three health and wellness subjects on the social medias are: Diet; Avoidance of alcohols; Mental health. The carb consciousness is also increasing day by day because the diet in the list can include beverage and alcohol and this beverage and alcohol focus on carbohydrate. Excess intake of high sugar and these are strongly related to the carb consciousness. This excessive sugar can lead to obesity and other health hazards.
Social standards finally concluded that the conversations among the beverage and alcohol consumers dictate that we are becoming more concerned about our health and therefore are spilling into the alcohol and beverage category.
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