Is nothing sacred recession proof anymore? First gambling failed to live up to its vaunted status as being a-cyclical, and now alcohol is following suit, at least in the UK:
Telegraph: The market continued to suffer, with a 7.2% decline this quarter compared with the same time last year, according to figures released today.
The fall is the largest third quarter decline for a decade, according to the UK Quarterly Beer Barometer by the British Beer and Pub Association (BBPA).
A total of 161 million fewer pints were sold between July and September compared with the same period last year – a fall of 1.8 million pints a day.
Beer sales in pubs, bars and restaurants fell 8.1% over the same period.
We doubt consumers are actually drinking less. We know that homebrewing vendors have tried to capitalise on the recession, pitching homebrew beer as a cheaper, DIY alternative to commercial beers. Perhaps if there’s mass unemployment people will find the time to brew their own, but for now folks will probably just trade down from pubs to six-packs on the couch.