The latest industry to demonstrate recession-resistance: booze. No surprise here: We imagine plenty of laid off employees are self-medicating with Scotch. But they are buying less expensive forms of alcohol.
AP: In the past few weeks, scattered reports have noted that alcohol sales are up in some places, despite — or maybe even because of — the downturn in the economy. The new figures have revived the thinking that when Americans are taking it on the economic chin they keep a firm grip on the bottle…
A closer look, though, shows in those states and others, the rise in alcohol sales merely follows on past increases. The most recent increases are, in some cases, smaller than what has been seen in the past. Still, the fact that they’re increasing says something.
“Beverage alcohol really is only mildly affected by the economic factors,” says Danny Brager of The Nielsen Company, which tracks consumer purchasing decisions. “A lot of consumers would still consider alcoholic beverages as an affordable indulgence.”
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