Google “recession” and “drinking” and you’ll find a day’s worth of reading.
The news is informative, contradictory at times, and fairly obvious at others.
We found plenty of tips on ways to save: malt liquor, Everclear, Charles Shaw, Popov Vodka, Carlo Rossi and, the reigning champ, Franzia boxed wine are labels for less.
Surprising to some may be the fact that drinking (and marijuana use, by the by), goes up when the Dow doesn’t — though this does not hold true for wine.
In another breath, we’re told that the liquor business is considered among the most recession-proof, right after contraceptives.
37% of Americans report going to bars or clubs less often. And a third of those surveyed order fewer drinks when they do go out.
Yet another report delivers, “There are no consistent patterns in alcohol consumption or spending on alcohol during recessions.”
At the end of the day, the only thing you can say for sure is that alcohol consumption changes when the economy is in the dumps. Wine drinkers might shift to spirits; Wall Street workers may order an extra round at lunch; restaurant servers may slow while budget brands at the “packie” sail.
What tomorrow brings is anyone’s guess. We’re guessing that industry marketers will change to keep up with all the change. We’ll be watching.