May drinks sales remain strong despite inflation

Drinks sales increased 5% year-on-year for the seven days ended 13 May following the long weekend for the coronation, according to the Drinks Recovery tracker from CGA Strategy.

Sales surged over the coronation long weekend but a combination of cooler weather and rail strikes depressed sales between the 9 and 13 May.

Sales of wine were up 7% in the period compared with 2022, with beer and cider also up 7% and soft drinks up 5%. Spirit sales were only up 1% as the category continues to struggle.

It added that strong sales in the last week complete a “solid if unspectacular” first quarter for drinks sales.

The last three weeks all saw good comparative growth yet all three remain well behind inflation.

Jonathan Jones, CGA’s managing director, UK and Ireland, said: “After a bumper Coronation weekend it was no great surprise to see something of a sales hangover in the days that followed.

“Consumers are clearly keeping a close eye on their spending in all areas, especially since we’ve enjoyed three Bank Holidays in five weeks. But with all our consumer research pointing to a desire to prioritise spending on eating and drinking out over other discretionary areas, we can be cautiously optimistic of more solid growth as we move into the summer.”