Brits are slashing their alcohol consumption to save money rather than become healthier, according to a new study released today by Mintel.
The research shows almost a third (32%) of consumers have reduced or limited their alcohol intake over the past 12 months.
More than half (51%) of the nation’s beer, wine and cider drinkers said they were drinking less alcohol than a few years ago.
Yet Mintel said it was economic factors that were encouraging consumers to cut back. The study found 44% of Brits who have reduced their alcohol intake have done so in order to save money, while 41% had done so to lose or avoid gaining weight. Improving personal health came in at 39%, while 30% cited reducing risk of disease as a reason.
Consumers most likely to have cut back on the booze were those aged 35 to 44 (36%).
Richard Caines, senior food and drink analyst at Mintel, said: “As many as a third of all Brits have limited or reduced their alcohol consumption at some point in the last year.
“While this includes consumers cutting back for shorter and longer periods of time, it is a strong indicator that steps to moderate alcohol consumption are now widespread. Reducing alcohol consumption to save money reflects the discretionary nature of drinks and how they can add significantly to outgoings.”