TIL World’s biggest beer, wine and spirits producers have collectively lost $830 billion in market value over just four years. Changing drinking habits and rising health concerns have hit earnings across the sector. Millennials and Gen Z are also not much interested in alcohol.
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MILLENNIALS destroying ANOTHER thing! WHY don’t they just SPEND the Money we DONT give them on these BAD things that will Make them Feel like CRAP while making US Richer?
-Billionaires!
Oh no, it’s definitely the zoomers for this one. Millennials were big on cocktails.
Millenials were also big on the whole craft beer thing (at least in North America, not sure how that trend played out in the rest of the world).
tf you guys mean “were”
In the case of the craft beer market, it’s not nearly as overhyped as it once was.
not here, there’s at least one craft brewery in every town.
also you made it sound like the past tense applied to the millenials themselves :P
It’s because anyone over 30 automatically becomes a boomer. Gen X has been all boomers for a long time and no one noticed. Millennials are critically endangered, but if you donate to my “save the Millennials” fund, we may be able to bring them back from boomerism before it’s too late.
Millennial here, IPAs are too expensive to have more than once a week or two. And getting them out at shows is fucking insane ($12-16).
Craft beer is huge in Australia
I lived in a part of Sydney famous for having dozens of breweries in a relatively small area
I could walk easily around some amazing places, and I could take my dogs to almost all of them
The article mentions the largest producers, so I wonder how much of this is people buying from local breweries instead of drinking Budweiser.
Americans are also big, and like 1/8 adults are on GLP-1s.
GLP-1s make the seltzer cans a hell of a lot more appetizing than a heavy/hoppy beer.
Yup. But millenials are getting to an age where hangovers are just not worth it, and you get gens are not continuing the slack. All my younger friends use all sorts of substances, but rarely alcohol…
a lot of younger millenials that I know are consciously drinking less. a higher number than expected are outright sober (whether due to previous addiction or just because why not)
Don’t forget my ever famous mocktails and cocks party where we auctioned off roosters for the local homeless shelter
Millennials taking credit for doing nothing, story at 11
For me, it was the colon cancer…
They really are the selfish generation
Most of the people I know are cutting back not because of health or habits, just because everything is so crazy expensive now. I feel like booze has been almost completely priced out of its target demographic.
Yeah, while I’m happy that this is making my favorite stuff cheaper, it’s still very expensive. Blanton’s was selling for $120/bottle just last year if you could even find it in my area, but I can find it in a regular grocery store for $80 now. EH Taylor went from $100/bottle and hard to find to $60 and all over the place. That’s WAY more affordable but also still really damn expensive compared to Buffalo Trace (all three of these brands are from the same parent company and from roughly the same recipe and source ingredients).
Scotch is slightly cheaper now, too. Dalmore 15 was selling for $120 last year and is around $100 now. Two years ago, Dalmore King Alexander was $340 but can be found in the grocery store for $280 now.
What I haven’t seen yet is a drop in price of Burgundy. I can’t afford to pay $300/bottle for a Nuits-Saint-George Gran Cru.
Even looking away from luxury booze brands, the cost of cocktails is also very high. I have to pay $21 for a cocktail at a moderately priced restaurant in my area.
Cocktails are a scam. Most places (and even some of the best places) are using cheap base ingredients, and the end results are gimmicky, boring, and lacking in complexity. At best, the median quality cocktail is nice to look at and features an acceptable balance of sweetness and acidity. A fucking glass of cold juice wins on a head-to-head of those metrics almost every time haha.
You’re definitely not going to the right places to get a cocktail.
Yeah, there is a difference between an $8 and a $20 cocktail.
Though I agree with you that too many places will charge a $20 price for a $8 quality.
Bars with overpriced drinks hate this one weird trick:
1oz Campari - $1.10
1oz Red vermouth - $0.75
1oz Gin - $1.50
1 orange peel sliver - $0.1
Ice
100% premium ingredients. A dalmation could prepare it. $3.45 cost, sell it for double @ $7.
I know it’s an unc take, but I just don’t understand where the appetite for $20+ cocktails comes from. Maybe I’m just poor, like the person said below.
What’s the word? Thunderbird!
They didn’t “lose money”, they made less money than they thought they were going to make, or hypothetically could have made if we were living in some imaginary situation instead of actual reality.
If I go to my fridge and find out that there isn’t as much ketchup in there as I thought there was I don’t write an article whining about all the ketchup I’ve “lost”.
Dude some of them legit lost. I love near wine country. The ones that adapted did well, the ones that didn’t, fuck em. The bigger hit was Krasnov’s trade war
yeah but think of all the folks betting on ‘ketchup futures in some random dude’s fridge’ they are gambling on?
what about THEM?
The legalization of Marujuana, edibles and young people collectively don’t go to bars anymore, I wonder if the amount of drunk driving has declined.
I want to say no…but I don’t have any way to know that I’m right. I’d assume the number of young drunk drivers has gone down. And I assume drunk driving will go down drastically once the boomers start their giant death toll numbers. But that’ll be over the next 20 years. My mom is 80. My grandma lived to be 103. The youngest boomers are 60.
But again, I have zero clue how right I am.
Agreed.
Instead of drunk drivers I have seen high drivers
Hence why MADD has been moving the goal posts to keep the numbers up to keep getting the donations. You can’t have a not for profit win, the struggle must be artificially continue for the fat salaries…
https://drunkard.com/08_02_fighting_madd/
Dont drink and drive, but the number a total bullshit these days.
“Amount of drunk driving” equals “how much cops pull over drunk drivers”
Not really, they juke the stats
Damn that was a pretty good read. Thanks.
I wonder if this industry is responsible for the surge in anti-cannabis content I’m seeing pushed in my social feeds of late.
A long time ago I saw a website that had a sort of humorous dictionary on it. The entry for DEA always stuck with me:
D.E.A. - Distiller’s Enforcent Apparatus. An army of masked thugs licensed to rob, defame, kidnap or kill those suspected of preferring other drugs over alcohol.
They’re also responsible for anti-cannabis legislation.
Two things can be harmful to health at the same time. Both cannabis and alcohol have negative effects to your health.
Square!
(Ok fine you’re right)
True, but also is true that one is way worse for your health and has had a metric fuck ton of studies. But the way you sound, it sounds like your pushing alcohol.
What mental gymnastics did you do to go
from
“Both Alcohol and Cannabis have negative effect on your health.”
To
“It sounds like your pushing alcohol” (should be you’re btw)
I’m pushing for neither, we should reduce alcohol consumption and weed consumption and even tobacco consumption for that matter. I want society to be healthier in general
I want socio economic conditions be so good, no one should feel the need to use any kind of intoxications to feel happy. I want adaquet mental health support.
I want socio economic conditions be so good, no one should feel the need to use any kind of intoxications to feel happy. I want adaquet mental health support.
LOL! Not happening in our lifetime. Enjoy the weed
Agreed.
I never used weed to feel happy. I never even thought it made me feel happy. Giddy, elated, calm - sure. But I keptt going back to it because I thought the time perception distortion effect and the visual/audio effects were fascinating.
I suppose there’s a difference between use and abuse, and that drugs affect individuals differently. But damn, if all you get out of weed is “happy,” I feel like you’re missing out! (Not that happiness isn’t important)
For me, the happiness from weed comes from enjoying everything more… food, drink, sex, movies/tv, doing nothing, video games.
I live with cryonic nerve pain and life can be pretty miserable. Weed doesn’t make it hurt less, just easier to ignore because everything else is better. I’ve tried all the pills doctors give me and they have been useless so far, but I’m always willing to try whatever promises relief
Yep. Bro. What drugs are you on because I want some.
My drug is pure unaldertrated horniness bro
Certainly not phonics
deleted by creator
Almost certainly. They don’t want people to be able to have a fun buzz with out consequences the next day legally.
Weird. Why don’t you block ads like everyone else?
Yes
Where are you seeing it exactly?
Next to the billboard for the dispensary, in the drunk tank, my mother
You should bail your mom out of the tank.
No!
Yes.
Canada’s boycott of big US manufacturers has helped as well.
Scotland is seeing a huge drop in scotch sales, and France is seeing a huge drop in wine sales. Even though the US producers are seeing a bigger drop due to Canada’s boycott, the rest of the world is also seeing a drop even accounting for the Canadian shift to their products.
Someone needs to bail out Czech republic
What on Earth is “vine”?
Wine, vino, vin.
Vine: Comes from Old English vyne and Latin vinea, meaning a vine in a vineyard.
Well that’s what happens when you socially engineer an alcoholism epidemic to boost sales in the near-term, but then people grow up and realize they need to quit drinking or else they’ll continue destroying their lives on repeat like it’s groundhog day or something
When I hit my late 20s (a decade ago…) I pretty much just upped and stopped drinking. No problem, no real reason just didn’t enjoy it anymore. Now I maybe go through a six pack or two a year mostly when doing yard work, or will have a beer socially once a month or every other month. Its just too expensive and I got better shit to do.
i used to like to drink because it was fun and tasted good.
now most places serve the same shitty drinks that are not worth the crazy prices they charge. very few places offer worthwhile alcohol service anymore. every place has like the same 8 drinks they push. it’s boring to drink the same boring flavored drinks over and over. $20 for a shot of cheap vodka and a ginger beer and a squirt of lime juice is utter insanity. esp when i can go to another bar and pay that same price and get an actual good cocktail with a unique and interesting flavor.
When I was 22, I could get blackout drunk and be fully functional by noon the next day. The hangover was almost like a handy alarm clock.
Now if I get drunk I feel like shit for like 3 days.
That doesn’t sound like you stopped.
I mean not 100% obviously but went from going out drinking weekly to going so long without drinking I might not remember the last time I had a beer. Point was pretty much everyone I know.has cut back significantly.
Yeah don’t listen to that guy, good stuff. Drinking a little is fine, especially in small moderation like that, although I’m sure someone will show studies that having even a single drop of alcohol is still harmful.
I’m on the same road, friend. My social group has a lot of social tokers. I’m a mmj user. Hoping they keep me around or use me as their excuse to light up. I was the DD for a different group and when I started using the mmj they saw a hell of a lot less use for me (some friends, huh?)
I’m sure the fact the Canadians have stopped buying American products costing producers $500+ million per year hasn’t been so good for them either.
It’s unrelated since this is about global attitude changes towards alcohol. US brands weren’t the only ones impacted.
The younger generations just aren’t drinking as much as previous ones.
You may not think it’s related, but math and the bottom lines of American producers would disagree.
You do realize the global alcohol market is around $2t, right? A $500m change is 0.025% of the market.
We’re talking about companies with tens if not hundreds of billions of dollars in yearly revenue. They probably feel more pain when people stop drinking for Lent.
This article is talking about global trends and people losing faith in the alcohol industry’s growth rate causing them to sell stock.
My comment clearly (but apparently not clearly enough) referenced the fact that American producers are dealing with the add on effect that the Canadian boycott is having. I read the article, you failed to read my comment.
No, your comment was clear. It just has no relevance to the post.
I’ll make sure to give your opinion all the consideration it deserves, professor.
For the American market, that is what the big worry is. Foreign boycotts, not weed. We’ve been dealing with weed for a long time. When considering the global market in aggregate, we can break out submarkets and examine their issues (you know, macroeconomic analysis) without ignoring the general equilibrium issues like you seem to be doing.
The US has $5-7b in alcohol sales per month. Losing $500m a year due to a boycott isn’t a meaningful decrease, and certainly isn’t relevant to people losing faith in the global alcohol industry’s growth rate and selling stocks.
Due to a boycott from a single nation. How many countries we sell liquor to?
Hey, we think alike! That’s what I hear from my buddy out at the winery. Although, weed has been here a few decades, they’re used to it already. They don’t really care about it as much, they’ve even got an unofficial toking porch at the vineyard (don’t tell the POlice) the trade wars are killing them tho.
Dear gods! I started working on losing weight last year and all but quit drinking. Are you telling me I tanked the industry?!
Honestly. Ozempic and friends may be a big part of this.
Guys, I found the culprit!
Good, alcohol is a terrible drug.
Millennials are killing the carcinogen industry!
Keep increasing the price to ensure it gets worse. Please legal drug dealers. Price yourself out of work.
The line must go up, they say, and these guys can’t come up with all kinds of schemes for subscriptions or selling your data to extract more cash, government is often limiting their marketing, so they’re restricted to lowering quality and increasing prices until you run out of customers.
They are going to eventually just hire armed guard to force us to drink.
I went sober for various reasons years ago. I wish I could say it saved me money though, now I spend my vice money on fancy food instead.
is already sitting at your dinner table
Dinner isn’t for hours, and you haven’t even started yet? That’s cool. I’ll wait.
I brought a game boy.
