Why mocktails often cost more than cocktails – and why millennials and Gen Z don’t mind paying more for drinks without booze
Did you ever wonder why mocktails can cost more than cocktails? Photo: Getty Images/iStockphoto
By Daniel Langer. CEO Êquité and Professor of Luxury Strategy at Pepperdine
Why do non-alcoholic “spirits” cost so much, sometimes even more than their alcoholic counterparts?
I travel quite a bit in my job consulting CEOs of luxury and lifestyle brands, at least in the pre-Covid-19 days. My typical schedule would shuttle me continuously back and forth between cities like Los Angeles, New York, Paris, Dubai, Moscow, London, Shanghai, Hong Kong, Seoul and Tokyo; 20 to 30 overseas trips per year were the norm when there was no lockdown.
One thing I started to notice all around the globe has been the emergence of non-alcoholic drinks. Whether you are in a glitzy bar in Shanghai or a restaurant in Paris, mocktails seem to be more commonplace.