Inflation a key concern for the beverage industry in 2023
Radobank’s analysts have issued the 2023 Beverage Market Buzz report. Though inflation has been on the rise for some time, savings that consumers built up over COVID have moderated inflationary impacts on retail spending. However, these financial cushions are now depleted, and some markets are seeing negative wage growth. Retailers can expect to see changes in the volumes, brands, and products purchased by consumers. The on-premise will be most affected by beverage price increases and rising utility costs.