As the no and low alcohol (NoLo) drinks segment continues to boom, 2023 was another great year for category leader Lyre’s Spirit Co. CEO, Paul Gloster, said the year was marked by growth not only for the brand but the wider category.
“With global economic pressure and stress on consumer spending, it has been fantastic to see maintained growth of the category. As a business we prioritised brand growth and customer support in key markets where we were able to convert wider awareness into uptake of the brand,” said Gloster.
Highlights of the year were those that helped widen awareness of Lyre’s and NoLo moments. This includes strategic partnerships across the country and the globe with charity abstinence challenges via Dry July in Australia and New Zealand, and Dry January in the UK and the US. Not only did these partnerships build brand and category awareness, but they also raised funds to support the work of these organisations, something that Lyre’s is especially proud of.
While these occasions are abstinence focused, Gloster emphasised that this is not the sole focus of Lyre’s. Moderation is the key driver behind the brand and will continue to be an opportunity for 2024.
“In the next 12 months, the greatest opportunity for Lyre’s is to target and capitalise on the changing demographic of the core NoLo consumer – 78 per cent of consumers who uptake the category are drinkers who are choosing to moderate their alcohol consumption,” Gloster explained.
“We see a great organic rise in low strength drinks and Lyre’s seamlessly blends into the flavours of the classic cocktails and mixed drinks, allowing a full spectrum of ABV in the same drink, depending on whether you are drinking, not drinking, or moderating.
We look forward to not only offering the best choice of non-alcoholic options, but also to play a role within the industry for lower ABV drinks when partnering with full strength spirit brands and venues that are looking at offering lower ABV drinks, without lowering their margins.”
In terms of what products will be trending in the NoLo retail sector, Gloster notes that price will be a big factor that consumers will consider when navigating the category.
Convenient and affordable RTD products are tipped to be big sellers in 2024, especially as more brands enter the market.
On the other end of the spectrum though, Gloster predicts that “a lot of brands will move away from the simple non-alcoholic spirit and mixer (such as a G&T) and explore more sophisticated cocktail offerings like margaritas and mojitos, that will drive trial and uptake of the category.”
This is where Lyre’s core products, like the Dry London Spirit and Italian Spritz, will continue to perform well and drive brand growth, alongside other trending non-alcoholic spirits like Lyre’s Agave Blanco.”
Optimising your NoLo offering
As the number one best selling and number one top trending non-alcoholic spirits brand globally (2024 Drinks International Brand Report), Lyre’s has great insight into the best ways to optimise offerings in the space in 2024.
“With there being so many incredible options across the NoLo category, retailers have seen success in visibly carving out a section or bay for the category and focusing on products that resonate with what their shoppers are purchasing across the alcohol category. Variety is key, offering shoppers more accessible RTD options, a few great non-alcoholic spirit options and similarly non-alcoholic wine and beer is the best place to start,” advises Gloster.
This article originally appeared in the 2024 Leaders Forum issue of National Liquor News.
