point of sale trends in beverage industry

Point of Sale Trends in Beverage Industry

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Point of sale trends are revolutionizing the beverage industry. Discover what these changes mean for your business and learn what role point-of-sale can play in its success.

Consumer beverage trends can be challenging and obscure. By employing point of sale (POS) analytics, you can optimize sales and gain insight into brand performance.

Local Geographic Point-of-Sale data analytics are key for beverage alcohol providers. A national message that resonates in Boston might not connect with drinkers in Biloxi.

1. Low-Alcohol Beverages

With consumer demand for alcohol declining, customers are opting for lower- and no-alcohol beverages as a way of cutting their consumption of the beverage. Their rise has been propelled by increasing health consciousness among millennial and Gen Z consumers who favor these options; as beverage alcohol companies respond by expanding these no- and low-alcohol offerings with new flavors and products; updating packaging so as to appeal to younger audiences; and investing in digital marketing campaigns.

Liquor stores and restaurants must ensure they offer a variety of low-alcohol beverages alongside beer, wine and spirits so customers who require less alcohol content can easily locate what meets their needs.

Utilizing POS data analytics is also essential to understanding how different product categories perform at a local level, whether it’s beer, wine, or spirits – customer purchasing behavior depends heavily on regional and geographic considerations, meaning a marketing campaign that resonates in Boston may not have as great of an effect in Biloxi.

Lastly, if your store or restaurant offers delivery service, consider expanding it to include low-alcohol beverages alongside beer and wine to attract new customers while maintaining existing ones. By doing this you may draw customers while keeping existing ones happy.

2. Mobile and Contactless Payments

Customers nowadays are spoilt for choice when it comes to beer and wine selection, and distributors must provide bars and restaurants with delicious and premium products that sell well at various locations. A POS can help distributors with this task as it provides detailed data regarding what items are selling best at different accounts and classes of trade.

POS systems are evolving to create the ultimate customer experience. A notable trend is contactless ordering; for instance, Coca-Cola Freestyle fountains now enable consumers to order and pay using mobile phone apps instead of cash handling staff – creating a safer and more enjoyable experience for both parties involved.

Digital wallets provide another contactless payment option. Users can store credit and debit cards on their smartphones for easy use when purchasing goods – simply tap their smartphone on a payment terminal or scan QR codes! In addition to expediting the transaction process, contactless payments reduce the risk of theft on-premise.

Modern POS systems take advantage of Bluetooth technology to seamlessly connect mobile card readers and peripherals without straining WiFi bandwidth or increasing data transfers over the Internet, thus helping reduce network demand and costs at bar or restaurant locations.

3. On-Premise Data Analytics

Food and beverage businesses face an ongoing management challenge with regard to point of sale data analytics. Brands and distributors need to monitor product performance both off-premise (grocery stores, liquor stores) and on-premise locations such as bars, restaurants and entertainment venues.

Beverage alcohol brands and distributors need the ability to track on-premise data in order to stay competitive in today’s highly competitive locations. Doing so allows them to gain insight into consumer purchasing patterns, which in turn allows for targeted promotional and pricing strategies against their competition.

On-premise data can also help suppliers understand which alcoholic beverages sell best, giving brands and distributors valuable insight into sales by region, state, class of trade and market.

Loyalty programs have also become more and more popular with consumers since the pandemic, becoming a trend before and post pandemic. Expected to increase further by 2022 as people look for ways to feel connected with their favorite bars and restaurants, this means now is an opportune time for any bar or restaurant that does not yet use one to implement one! Solutions exist that provide in-app loyalty functionality for your POS system so customers can earn points for purchases while simultaneously cutting labor costs.

4. Big Data

Beverage alcohol companies must be responsive to consumer trends quickly and efficiently, using data-backed insights to stay ahead of their competition and make better decisions.

Data analytics can also assist beverage manufacturers and distributors in planning and executing supply chains more effectively. They can identify potential issues before they have an effect on sales, thereby minimizing operational risk for their brand. Through predictive analytics, they can monitor production rates and inventory levels to prevent stock outs, as well as forecast future weather patterns or cultural events that might lead to spikes in sales (for instance Oktoberfest in Germany or a heatwave in Spain).

Data-driven insights can be leveraged to create customized marketing experiences that engage consumers and build brand loyalty. Global drinks brand Coca-Cola utilizes image recognition technology to identify beverages being consumed by individual consumers, while tailoring advertisements on mobile devices based on location data and prior purchases histories.

POS data offers critical insights that can be leveraged to drive sales, expand market share, and increase competitiveness. Leveraging advanced technology to acquire, cleanse and structure on-premise sales data is paramount for beverage alcohol brands and distributors. With insights like Outlet Census Live from SharpGrid, brands and distributors can quickly see market dynamics and sales trends by bar and restaurant location, class of trade account type account type account type account city all within one comprehensive solution.

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