According to our guest author, catering to the new global citizens would be difficult without first understanding and responding to their requirements on a far deeper level than merely product offerings.
Alcoholic beverage (alco-bev) marketing is a creative process. Brands must follow the norms of the Advertising Standards Council of India (ASCI), as well as the legislation of the land. Over the last decade, we’ve seen a steady increase in inventive marketing activities.
With the advent of social and digital media channels, as well as the rising appeal of various multinational brands in Indian marketplaces, the story is now being formed by a new customer. Gen Z is the generation born between 1995 and 2015, and currently, at 1.8 billion, they represent a quarter of the global population. Approximately 375 million people in India belong to Gen Z, accounting for 27 per cent of the total population.
Millennials (born between 1980 and 1994), on the other hand, account for 24 per cent of the country’s total population and together, they are shaping the consumer narrative trends for brand engagement across sectors.
Gen Z refers to people born between 1995 and 2015, and they make about a quarter of the world’s population (1.8 billion). In India, Gen Z accounts for around 375 million individuals, or 27% of the overall population.
Millennials (those born between 1980 and 1994), on the other hand, make up 24% of the country’s population and are defining consumer narrative patterns for brand engagement across industries.
This new age consumer has just just begun to stretch its buying power, with clearly defined spending characteristics that are more focused on exploring new experiences and pursuing distinctive and inventive routes. And the alcoholic beverage industry has emerged as one of the most popular!
According to the Indian Council for Research on International Economic Relations (ICRIER), the Indian alcoholic beverage market is worth around Rs 3.9 trillion, making it the third largest after China and Russia, and is predicted to grow at a CAGR of 6.8% by 2023.
As the number of Gen Zers reaching legal drinking age grows, their preferences and choices will affect the market, brand experience, and product design, transforming previously conservative alcohol marketing approaches. The new era of alco-beverage marketing is based on the following main narratives that can help brands engage with the new Gen Z consumer: Original content: Content has emerged as an undeniable differentiator for organisations in an age of information overload and saturation brand exposure.
Given the strict requirements that must be followed as a marketer in the alcohol industry, content becomes even more relevant and important. Innovative storytelling can aid in the development of a successful and compelling content-driven campaign in this area.