Our client, 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 summary of alcohol consumption in the USA. Then, we focused on analyzing the cocktail catering industry as a new but essential part of the catering industry.
Additionally, we identified the cocktail culture’s trends, and we presented many forecasts. We made a correct assumption for the Steady Pour’s market size in the future. We also completed a brief segmentation with a focus on explaining the reasons for choosing the target segments. As well as analyzed the two target segments Millennials and Generation X, and the key demographic characteristics of potential customers that we identified.
Afterwards, we calculated the average prices using 21 different businesses and analyzed 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 research for the cocktail catering industry in the USA.
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Danco is a serial entrepreneur, founder and CEO of BizzBee Solutions, proud father of a 3-year-old and a burger enthusiast. He is inspired by growth and goes above and beyond to make it possible – whether it comes to his 300+ clients or his people. Eager to learn more? Follow Danco on LinkedIn and Facebook.