St. Patrick’s Day/NCAA Double Whammy Could Be Bad News For Bars And Brewers

beer bong, basketball

Today is the Holy Grail for beer brewers, bars, and hard alcohol companies. Not only is St. Patrick’s Day the “Christmas” of bar revenues, the NCAA Men’s Basketball Tournament is starting today!

According to beer industry research by IBISWorld, numbers show that around 1 per cent of total annual beer consumption occurs on St. Patrick’s Day.

That’s approximately four times more beer consumption than the daily average. But will bars and brewers lose revenues by reducing the number of marquee days now that Day 1 of the NCAA Tourney is today as well?

Logically, bars would not lose revenues only if patrons will consume two celebratory days worth of alcohol in one power-packed day. Although some brave souls will try, I doubt it will work in the companies’ favour on average.

Beer brewers are rallying nicely today. Anheuser-Busch InBev (NYSE:BUD) is up 2.5% and The Boston Beer Company (NYSE:SAM) is up 1%. But if you’re not a day trader, you may consider today’s quagmire.

I love a mind-moving contrarian inquiry. And I think this one is legit. What do you think? If you’re sober enough to comment below, I’ll have to assume I’m correct.

This post originally appeared at Wall St. Cheat Sheet.

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