Provi's Annual Beverage Alcohol Report Reveals Trends That Influence B2B Buyer Behavior

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Jan 26, 2023, 10:52 ET

Company announces insights on how bar, restaurant and retail buyer behaviors evolved in 2022

CHICAGO, Jan. 26, 2023 /PRNewswire/ -- Provi, the largest online marketplace for the beverage alcohol industry, today launched its annual Provi Pulse report around B2B beverage alcohol ecommerce trends. The report highlights how bar, restaurant and retail buyer behaviors evolved in 2022, leveraging its unique, first-party marketplace data.

Provi Pulse Annual Report B2B Beverage Alcohol Ecommerce Buying Trends

This year's annual Provi Pulse report analyzes five consumer trends that influenced on- and off-premise buying behavior in the Provi marketplace. The company dissects the explosive growth of ready-to-drink (RTD) and canned cocktails, the continued rise of premiumization, viral craft cocktails, the rise of conscious consumption and how the evolution of technology impacted retail buying.

The report found that within Provi's marketplace, on-premise retail purchased more spirit-based RTDs (52.42%) than off-premise retail in 2022 (43.89%). On-premise retail buyers attribute shifts within the hospitality industry and consumers' evolving interests to this upward trend.

"As we bounce back from the pandemic, the hospitality industry must be incredibly mindful about how we optimize our operations, while meeting the evolving consumer demand for new and different products. Integrating ready-to-drink and canned cocktails into our bar programs enables us to serve our customers tasteful drinks efficiently, especially at high volume bars," stated Mike Williamson, General Manager, Four Corners Hospitality.

Provi marketplace data also illustrates that premiumization trends vary across each market. The report found the average order in metropolitan areas contained higher amounts of super-premium and ultra-premium still wines whereas the average order in rural areas contained higher percentages of value, standard and premium still wine.

Viral cocktail trends also influenced purchasing behaviors from retail buyers, Provi data finds. Following a trending video about the "Negroni Sbagliato," demand for the cocktail's three main ingredients, Campari, sweet vermouth and prosecco saw a dramatic increase in demand on Provi's marketplace. In October 2022, there was a 39.20% increase in the number of carts containing Campari, a 34.64% increase in the number of carts containing sweet vermouth, and an 11.70% increase in the number of carts containing prosecco.

"Any business, not just bars, should be aware of what's trending. Providing a beverage or service that someone has seen on social media or elsewhere is a fun experience for the guest. We continue to have our ear to the ground for the next trend in the beverage world," stated Blind Barber's Purchasing Manager, David Molina.

Data within Provi Pulse showed that online beverage ordering spiked over holidays and events. In 2022, the marketplace saw an increase in total sales in the weeks leading up to Thanksgiving by 36%, St. Patrick's Day by 20%, Labor Day weekend by 14% and Independence Day by 7%.

Alongside consumer digital adoption, Provi predicts B2B online ordering to grow as more bars, restaurants and retail shops migrate to digital tools to streamline their operations and ordering processes. The digital transformation, exacerbated by the pandemic, has impacted every tier of the bev-alc industry with no signs of slowing down.

"Over the course of the last three years, we have seen a tremendous shift towards digital adoption across each tier," stated Taylor Katzman, Founder and CEO, Provi. "Retailers, distributors, and suppliers have unlocked online solutions to generate efficiencies within their organizations while strengthening the connection between them. As a result, the beverage alcohol industry is experiencing tremendous growth. Despite living in a post-pandemic world, we will continue to see the upward trend of ecommerce, especially in the B2B ecosystem."

To download the full report: https://www.provi.com/resources/provi-pulse-beverage-alcohol-trends-2022

Methodology: The data derived from the Provi Pulse 2022 Annual Report is representative of three million-plus beverage alcohol products ordered in the United States through the Provi marketplace in 2022. Provi Pulse data is collected using various first-party data techniques and timelines and does not represent the wider beverage alcohol industry as a whole. The data timeline presented in this report contains a variety of YoY, MoM and YTD insights beginning on January 1, 2022 and ending on December 1, 2022.

About Provi
Provi is the largest online marketplace that simplifies the complex process of ordering wholesale alcohol by connecting buyers, distributors and suppliers. Founded in 2016 and headquartered in Chicago, the company received Built In Chicago's Best Places to Work recognition in 2022. In 2022, Provi joined forces with SevenFifty, which included the Beverage Media properties with industry legacy dating back to the repeal of prohibition, along with SevenFifty Daily, an award-winning industry publication discussing the beverage alcohol business and culture.

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SOURCE Provi