Remember the days when your liquor cabinet was filled with cheap brands like Aristocrat Vodka, Bowman’s Run, and Virginia Gentleman Bourbon, and how you swore that once you made a little more money, you’d stick to nothing but top-shelf fire water?
Turns out, The Great Recession has thrown cold water and a dash of sobriety on those plans.
According to an industry report by the Distilled Spirits Council, released as part of an Associated Press article, the amount of liquor sold increased over the past year, however, drinkers turned away from name brands and to less expensive, “value” brands.
Considering the economic climate over the past year, it’s pretty obvious why both of the aforementioned points are no-brainers.
Increased Liquor Consumption: We’re in the worst recession since WWII. Economic downturns, in general, tend to make people grouchy and want to drink more. Seems to me the worse the economic situation, the grouchier people are and the more they want to self-medicate with booze.
Buying Cheaper Brands: Again, we’re in the worst recession since WWII. Unemployment is the highest it has been in nearly 30 years. When people don’t have jobs or are worried about losing the one they have, they tend to spend less money. Since drinking alcohol is a discretionary expense, it is likely one of the first places people look to rein in their spending.
So, what are your thoughts? Has The Great Recession caused you to change your drinking habits? Where else have you made subtle cuts to save money? Leave your comments below.
