According to data sourced from CGA’s BeverageTrak service, cocktail sales in the United States witnessed a notable uptick of 6% in the final quarter of 2023. Tequila emerged as the preferred base spirit for over a third of all cocktails sold, marking a significant trend in the beverage landscape.
The average price of a cocktail also experienced a modest increase, climbing to US$13, up by US$1 compared to the previous year’s figures.
Tequila’s dominance in the market saw it claim a substantial 34.1% share of cocktail base sales by value, registering a year-on-year increase of 1.8 percentage points. Conversely, vodka experienced a decline in its market share, dropping by 1.3 percentage points to 28.2%.
Leading the pack of popular cocktails was the timeless Margarita, closely followed by the Martini and the Moscow Mule. The Margarita, which has maintained its status as the nation’s favorite cocktail since 2016, also topped the list as the most-searched cocktail in the UK in 2023.
Notable risers in the cocktail scene included the Spritz, Negroni, and Espresso Martini, while classics such as the Manhattan, Bloody Mary, and Lemon Drop saw a dip in their market share. Among the cocktails commanding the highest average selling prices were the Mai Tai, Negroni, Espresso Martini, Old Fashioned, and Manhattan.
Geographically, the states leading in cocktail sales were Nevada, the District of Columbia, California, and Kansas.
Matthew Crompton, Regional Director – North America at CGA by NIQ, expressed optimism about the cocktail category’s growth prospects for 2024. He emphasized the importance of understanding evolving consumer preferences and adopting agile promotional and ranging strategies to capitalize on market shifts.
Crompton stated, “While stalwarts like the Margarita maintain their allure, the cocktail market is dynamic, with subtle yet significant changes in consumer preferences. Leveraging data-driven insights from our Quarterly Sales Tracker will be pivotal in driving informed decision-making and sustaining growth in this evolving landscape.”
