Most Americans plan to keep spending on booze
Americans' spending on alcohol is still going strong. In fact, this year, many plan to spend more on booze than previous years, according to a recent survey, indicating that we're getting a little more comfortable with using our disposable income again.
Alcohol sales were fairly strong during the recession and Americans cut back spending on more expensive luxury items and daily $5 cups of coffee instead, but spirits sales are expected to be still stronger this year, reports AlixPartners, a business advisory firm.
In particular, restaurant-goers and bar-hoppers are more likely to order more alcohol when they're out as opposed to shopping at a liquor store or grocery store for instance, according to the AlixPartners study, which surveyed 1,000 people over one weekend in February.
About 87 percent of those surveyed said that they plan to spend the same amount of money or more this year on alcohol. That compares with last year's survey which found that only 70 percent expected to spend just as much or more than the prior year.The beer belly myth
Interestingly, beer sales are expected to stagnate in the next 12 months, according to Darren Morrison, vice president of AlixPartners’ consumer products practice.
“Despite the overall uptick in demand, our analysis found that one in three consumers would look to reduce their spending on beer by lowering consumption, looking for sales and promotions or trying less-expensive brands,” Morrison said in a prepared statement.
Either way, Americans will be collectively spending a fortune on beer. The market for beer in the United States is about $101 billion, the firm estimates. And craft brews have been getting more popular. Last year, those breweries saw an 11 percent increase in sales, AlixPartners reports.Explore Bundle's new Merchant Recommender Tool!