Those are among the insights from CGA by NIQ’s exclusive Germany On Premise Consumer Pulse Report, which highlights the big trends for suppliers and operators to track and flags ways to secure people’s spending.
The research shows 44% of consumers are making fewer visits for high tempo occasions at the moment—more than the number (15%) who are going out for more. Of those going out less frequently, nearly half state its due to increases in the cost of living (48%) and prices (47%). Smaller numbers say it’s because they have less disposable income than usual (24%), and friends and family aren’t going out as much (23%).
However, the report also highlights positive trends and opportunities. Younger adults remain particularly eager to enjoy high tempo occasions, with 34% of Gen Z going out for them at least weekly—more than double the total average of 15%. Their top motivations include the desire to have fun, try new places and support bars and pubs. High tempo visitors are also much more likely to live in city and town centres, and have a household income that is 17% above average.
Experience-led venues are emerging as a major competitor for bars in high tempo occasions. A quarter (25%) of those in Gen Z say they have visited leisure venues more frequently than usual over the last three months. The top three reasons for using them over other venues are the opportunity to try something fun, to enjoy an engaging activity with friends or family, and to relax and de-stress.
Bilal Kaddouri, CGA by NIQ’s Client Solutions Director, said: The cost of living crisis has put high tempo occasions under some strain in 2023, but we can be optimistic that this market will recover well in 2024. Consumers’ behaviour and preferences on their big nights out is evolving fast, and all suppliers and venues need to pinpoint the key trends and respond nimbly to win young adults’ spend.”
You can download the full Germany On Premise Consumer Pulse Report for free here.
To learn more about CGA by NIQ’s unrivalled suite of services in Germany and how it can help your business, please email firstname.lastname@example.org.