Steady Pour, a cocktail catering startup, needed a Market Research on the cocktail catering industry in the USA. They wanted an overview of the market, trends, demographics, pricing, competition etc. We started the research with a market overview, which gave a general overview of the alcohol consumption in the USA. Then, we focused on analyzing the catering industry, specifically, the cocktail catering industry as a new but important part of the catering industry.
Additionally, we identified cocktail culture’s trends and we presented many forecasts. We made a correct assumption for the Pour Steady’s market in the near future. We completed a brief segmentation with a focus on explaining the reasons for choosing the target segments, and we analyzed the two target segments (The Millennials and The Generation X), as well as the key demographic characteristics of potential customers that we identified.
Afterward, we calculated the average prices using 21 different businesses and analyzing their menus and prices for craft cocktails. We identified direct and indirect competition and analyzed them by several criteria. As a result, we did a summary presenting the most important conclusions of the market research.