Students are going out more often despite the
difficult economic conditions, according to a new study from CGA that says they
spend up to £3.2bn per year on nights out.
The survey of 2,500 students also found they consume more than 10% of all on-trade serves during term time alone.
The survey of 2,500 students also found they consume more than 10% of all on-trade serves during term time alone.
According to the CGA Student Report 2012, more
students surveyed said they are going out more often than a year ago than those
saying they are going out less.
The report dismisses the stereotype that their
purchase decisions are based on price alone. It also points to a growing demand
among for outlets beyond traditional student-focused venues.
Kylie Poole at CGA said: “Students are a critical
market for many pubs but their attitudes and behaviours are notoriously fast
changing, especially at the moment given the trend towards living at home, the
growing number of mature students and the impact of increased tuition
fees.
"Our report confirms that students today are very
different to the old stereotype: their tastes and preferences are highly
sophisticated and they are demanding more from their on trade experiences than
ever before.
“Students are traditionally painted as a fairly
basic bunch only interested in the cheapest products, but our research found
quite the opposite. The modern student population is increasingly diverse with a
growing proportion seeking to indulge their luxury tastes on a limited
budget.
“Our research suggests that certain student types
will trade up whenever they can and have a sharp awareness of premium products,
often seen as occasional treat.”
So what are you
doing to target these students? - We have put together a presentation in 2011 (in
conjunction with a current Media Student) to show you how to access this hard to
reach market.
Please see the
presentation below.