Solid start to the new year for drinks sales after strong end to 2023
Britain’s pubs and bars have started 2024 with sound year-on-year growth in drinks sales, CGA by NIQ’s Daily Drinks Tracker shows.
Average sales in managed venues in the week to Saturday 6 January were 25% ahead of the corresponding week in 2022—though this is inflated by the inclusion of New Year’s Eve in the most recent data and not in last year’s equivalent period.
On a straight comparison, trading on 31 December was 0.2% ahead of New Year’s Eve in 2022, while New Year’s Day was 1% behind. There was year-on-year growth on three of the remaining five days of the week, including 4% and 13% on Tuesday and Wednesday (2 and 3 January). Cold weather contributed to a 5% drop in drinks sales on Friday (5 January).
The generally healthy numbers follow a good end to 2023 for drinks in the On Premise, with year-on-year growth of 7% in the final fortnight of the year, comfortably ahead of the rate of inflation.
The Daily Drinks Tracker shows large upswings for all key categories in the first week of 2024, including spirits (up 49%), beer (up 19%), cider (up 24%), wine (up 32%) and soft drinks (up 14%), though all these numbers were skewed by the New Year’s Eve comparisons.
“After a positive festive season, pubs, bars and suppliers start 2024 with some decent momentum,” says Jonathan Jones, CGA by NIQ’s managing director, UK and Ireland. “As many people rein in their spending and follow Dry January, it is likely to be a slow start to the year for some businesses, but with signs of an easing in inflation and interest rates we can be optimistic that consumer confidence will start to pick up.”
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