Price is a more significant influence than health and wellbeing among consumers who are cutting back on their alcohol consumption, new research from MMR Research shows.

The consumer research agency said that 39% of consumers are limiting their alcohol intake due to affordability, compared with just 22% who say they’re doing so to support health and fitness goals and 14% who want to be more mindful.

But that didn’t mean that alcohol brands should rush to slash prices said Andrew Wardlaw, MMRs chief ideas officer, as people are becoming more cautious about how they spend their money generally.

“Across the board, we are seeing people becoming more purposeful and deliberate with their spending,” Wardlaw added, “and that intentionality only ramps up when purse strings are tight. 

“If an alcohol product doesn’t meet a particular need in their life, consumers are far less likely to see it as worth paying for.

“We can no longer assume alcohol’s place at the centre of social occasions. 

“Ritual and habit just aren’t as powerful anymore and, as consumers spend in a more considered way, brands must up their game too, designing products more deliberately to fit the way people want to live, feel, and celebrate.” 

Wardlaw added that “novelty fuels people’s excitement” about alcohol and that “they’re on the hunt for unusual flavours, formats and collaborations”.

MMR’s was based on 1,000 “consumer conversations” last September.