F&B revenues have seen a sharp increase over the past couple of years with dining out becoming a rising trend, particularly in disposable income heavy cities like Mumbai, Delhi and Hyderabad. Datamonitor's research therefore should bring further optimism for hoteliers devising sales and marketing strategies for 2011 - Now seems like an opportune moment to devise attractive promotions and packages around alcoholic beverages.
By 2014, the alcoholic beverages market in India is expected to cross USD 39 billion corresponding to close to INR 176,000 crores. The market for alcoholic beverages in India has already displayed an impressive growth rate of 12 percent between 2004 and 2009, according to Datamonitor.
The market's rapidly expanding size is being attributed to larger disposable income in India, growing social acceptance of alcohol consumption in India's middle-class and the positioning of alcohol as a lifestyle product. From Datamonitor's findings, new segments hoteliers may want to watch out for are youngsters due to international exposure and women due to increasing financial and social independence. The key to tapping these two emerging segments, particularly the women is "low concentration alcoholic products" according to Datamonitor. Beer consumption in India has reportedly grown by close to 25 percent between April and September 2010. Suppliers too are expected to launch a range of such low-alcohol products according to the research firm.
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