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Essay / Lit Review - 726
Craft beer sales experienced significant growth between 2009 and 2012 and are expected to continue their upward trend. Interestingly, the economic downturn does not appear to have affected the craft beer market, despite the higher price of craft beer compared to mass-marketed domestic beer. In fact, craft beer is experiencing sales growth that other beer categories are not experiencing. (Clarke, 2012; Pierre, 2013) This growth has been attributed mainly to millennials. Millennials (born between 1981 and 1995) have been described as being conscious of the affordability and quality of their product choices, but also seeking to express themselves through their choices. (Rigik, 2012) According to the Brewer's Association, 46% of new craft beer drinkers are millennials (Clarke, 2012). The craft beer market is primarily made up of middle-class beer consumers who appreciate fine-tasting beer and are willing to pay a little more for it. Craft beer consumers are generally male, white and aged 25 to 45 (Clarke, 2012; Pierre, 2013). Other demographics suggest that the craft beer consumer is also likely to be college educated and earn an income of $50,000 or more per year (Clarke, 2012). 80% of craft beer is consumed by white consumers, more than half of whom are aged 21 to 44 (Clarke, 2012; Pierre, 2013). While it would be understandable to focus marketing efforts on white, male, and middle-class consumers, there is certainly potential to expand into other demographics. Marketers could expand the craft beer market by attracting the Latin American beer consumer. Many large companies such as Nissan, McDonald's, and Wal-Mart are marketing their products to the Latin American market because they find that the profit potential is vast (Rigik, 2012). I...... middle of paper ...... a beer drinker looks like | In the Capital. Retrieved from http://inthecapital.streetwise.co/2013/03/27/dissecting-the-craft-beer-consumer-a-look-at-what-an-awesome-beer-drinker-looks-like/Rigik, E. (2012, May). Hispanics and millennials are reshaping the retail market. Convenience Store Decisions, 23(5), 16. Sester, C., Dacremont, C., Deroy, O. and Valentin, D. (2013). Investigating consumers' representations of beers through a free association task: a comparison between packaging and blind conditions. Food Quality and Preference, 28(2), 475-483.Ueltschy, L. and Krampf, R. (1997). The influence of acculturation on advertising effectiveness in the Hispanic market. Journal of Applied Business Research, 13(2), 87-101.Webster, C. (1991). Attitudes toward marketing practices: the effects of ethnic identification. The Journal of Applied Business Research, 7(2), 107-116.