Along with an increase in the number of pubs, breweries, microbreweries, & bars, a decrease in the number of cafes is being observed over the past two years driven by younger consumers, competitive pricing & a proliferation of options.
Socialising has become an inescapable phenomenon & is providing millennials with a place to hang out at pubs, bars & liquor serving lounges.
Also, the tendency to spend time & money on a low alcoholic beverage, after realising that the menu price of a coffee & beer is the same is also one of the reasons.
Changing demographics, younger consumers, awareness about liquor options – all these factors are contributing to how the eating & drinking out landscape is evolving & are driving restaurant chains to up with a bar-only concept.
A wide variety of drinks and not just beer, snacking options, portion sizes, are also driving in the numbers.
Taps on tables along with a ‘self-pour’ concept are being launched for consumers.
Consumers with higher disposable incomes, fast-paced lives, & those comfortable with the idea of grabbing a quick lunch, dinner, or drink are also driving in the numbers.
Young, working population are also getting habitual to a global palette & are willing to pay a higher price for the experience.
New players are also experiencing footfalls both on weekdays as well as weekends.
Consumer segment frequenting cafes & bars is mainly in the age group of 18-35 years.
India’s food service space triggered with multiple growth drivers like demographics, lifestyle & urbanisation are contributing for the same. However, the past six months, have been tough for the alcobev industry, due to demonetisation & the Supreme Court ban on alcohol along the highway & other regulatory woes.
