With Cinco de Mayo coming up this weekend, you can bet restaurants and retailers are planning big festivities centered around food and drink to celebrate. And many restaurants will be feeling a nice buzz as on-premise tequila sales predicted to more than double on May 5, according to new data of restaurant and bar sales in 2011 and 2012, reported the Distilled Spirits Council.
Tequila accounted for 8% of total spirits sales in bars and restaurants in 2011 and 2012, increasing to nearly 18% on Cinco de Mayo, based on new GuestMetrics LLC on-premise reports for the Council, which collects raw transaction data from thousands of restaurants and bars across the country, from the independent owned to large national chains.
Since 2002, tequila volume has grown by 72%, at an average rate of 5.5% per year with 12.3 million cases of tequila sold last year. It remains one of the fastest-growing spirits categories in the United States, according to total tequila sales from the Distilled Spirits Council.
"Consumer interest is being driven by the continued popularity of tequila cocktails, as well as by the expansion of Super Premium 100% tequilas available in the marketplace," said Alexandra Sklansky, Distilled Spirits Council director of public relations. This is evident by the 9% growth of super premium tequila volumes in 2012, up 430% since 2002.
The margarita continues to be America's favorite cocktail year-round. While 30% of margaritas sold in restaurants and bars throughout the year are flavored, on Cinco de Mayo, consumers celebrate with traditional lemon or lime margaritas.
A comparison of total spirits and cocktails sales for the entire week of Cinco de Mayo in 2012 and 2011 showed a 6% growth, confirming the importance of this holiday for the tequila category and for the on-premise sector of the hospitality industry, said Bill Pecoriello, CEO of GuestMetrics.
