According to a Summer 2017 Report produced by Merrill Lynch - Global Beverage Alcohol group, some interesting findings.

Taste is the most relevant factor of choice

We know it's not that hard to make a quality but tasty beverage.  With the rapid expansion of craft beer and craft cocktails, we know there isn't an excuse to produce something of quality.  

56% of 30-34 year olds prefer to drink less but better quality beverages

We may be drinking less, but there are also other quality options to get a good buzz in addition to alcohol.  Alcohol produces a particular effect that differs from other intoxicants, and having the minimum amount gives the necessary effect without having to over-due it. 

When going out, we prefer to pre-drink or "pre-game" to spend less on overpriced options at bars and clubs, which often time won't be as good as what we can make at home. 

Scotch / Whisky ranked poorly (may be a sign of a major turn in the industry)

Scotch is viewed as an old-man's drink, and who wants to be an old man?  Not women or younger men (i.e. everyone).  Whiskey is doing just fine and this statistic most likely represents scotch as opposed to whiskey generally.  

Firstly, scotch isn't cool by any means.  Second, the good stuff is expensive and we don't have time for that.  Third, it basically has the opposite of a fresh or refreshing taste.

Men are 1.6x more likely to take calorie count into consideration

We explored the relevance of calorie count in relation to beverage choices to gain a fuller picture of the impact of health concerns on millennial drinking habits. Overall, almost half the respondents indicated that they did not take calorie count into consideration; in fact, only the minority were concerned on this front. We observed, to our surprise, that men were more likely to actively consider their calorie intake than women (22% vs 14%; Chart 7).

Half of respondents they don't take calorie count into consideration.  We've come to understand the food-industrial-complex of "Diet Cola" and "low calorie" options are poor substitutes for having wholesome, yet higher calorie options.  Higher-calorie artisanal bread?  Bring it on. 

Home entertainament gaining traction: with 50% of all participants preferring to drink at either their or someone else's home

Most clubs have bad music, and you have to wait too long in lines -- and then you have to pay a high price in drinks for those long lines and not so great music.  No bueno. 

But hey, there are spots that are upping their game: craft cocktail bars with unique experiences like live or (actually) good music.  Craft breweries with human-size Jenga and corn hole around the area.  Wineries that let you tour the facility and sample the grapes.  Basically, we'd rather stay at home and make a party ourselves if off-premises spots don't care to try anymore.