According to Nielsen research, 86% of consumers believe the country is currently in a recession, but alcoholic beverages are still seen as an affordable indulgence.
“Historical, as well as more recent consumer trends, indicate that alcoholic beverages are much more recession-resistant than many other product categories,” says Richard Hurst, senior vice president, Beverage Alcohol, The Nielsen Company.
In its alcoholic beverage trends outlook for the 2008 holiday season, Nielsen notes a number of factors impacting consumer choices. Read their recent blog post to see how alcoholic beverage consumption will be affected in restaurants and bars, at home, and in gift-giving.
Interesting information that reflects the results on a little poll I’m running on my beer site.
68% indicated they were actually buying ‘more beer’ in this economy, 22% were buying ‘less beer’, and 11% started to grub beer off of friends!
There was an article in the Wall Street Journal years ago that said 2 products excel in sales during times of recession,or depression . Beer and Apple Pie . I have not been able to find the article because I am to cheap to subscribe to WSJ s search engine. Can anyone else find it ? Glen
[...] economies have many crying in their beers, the fact that they are buying beer to cry into may be a good sign for the industry. According to Nielsen research, 86% of consumers believe the country is currently in a recession, [...]
Some more anecdotal evidence – just read in Cheers magazine that among all upscale restaurants in DC, the beer-oriented ones (like Brasserie Beck etc) don’t see any decline in sales.
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