Will the Lunar New Year period boost soft drink sales?

Two in five Singaporeans are more likely to buy soft drinks during festive seasons.

Beverage companies may see a slight increase in sales during the Lunar New Year period.

According to a survey by YouGov, more than two in five Singaporeans (43%) say they are more likely to buy soft drinks during the Lunar New Year as compared to typical days.   

Amongst age groups, consumers aged 18-24 (53%) are more likely to purchase sparkling soft drinks during the festive season.

The top five brands that Singaporeans are likely to buy during the Lunar New Year period include Coca-Cola (71%), A&W Root Beer (47%), Sprite (42%), Pokka (42%), and Fanta (37%).

Meanwhile, seasonal promotions may help soft drink companies boost sales during the festive season. 

Data from YouGov showed that 37% of consumers in Singapore agree that seasonal marketing campaigns for sparkling or soft drinks are memorable and help them remember the brand. 

Amongst all the festive marketing campaigns for sparkling/soft drinks, in-store promotions or discounts appear to be the most appealing to Singaporeans (56%). Three in ten find limited edition flavours (31%), or festive-themed packaging attractive (29%). 

Promotions on e-commerce platforms are next most appealing (26%), ahead of TV advertisements (21%) and social media promotions (17%). 

Collaborations with other brands, celebrities or influencers are comparatively less well received, with only one in ten saying they find it engaging (13% and 11% respectively).  

When it comes to buying soft drinks, supermarkets are the most preferred places (69%). Less than half of this number buy from e-commerce platforms (31%) or via delivery services of supermarkets/grocery stores (26%). 

One in five buy from wholesalers or discount stores (19%), whilst one in ten prefer convenience stores (11%).