TIL World’s biggest beer, wine and spirits producers have collectively lost $830 billion in market value over just four years. Changing drinking habits and rising health concerns have hit earnings across the sector. Millennials and Gen Z are also not much interested in alcohol.

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[–] 85 points 3 months ago (8 children)

Most of the people I know are cutting back not because of health or habits, just because everything is so crazy expensive now. I feel like booze has been almost completely priced out of its target demographic.

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  • [–] 20 points 3 months ago (4 children)

    Yeah, while I'm happy that this is making my favorite stuff cheaper, it's still very expensive. Blanton's was selling for $120/bottle just last year if you could even find it in my area, but I can find it in a regular grocery store for $80 now. EH Taylor went from $100/bottle and hard to find to $60 and all over the place. That's WAY more affordable but also still really damn expensive compared to Buffalo Trace (all three of these brands are from the same parent company and from roughly the same recipe and source ingredients).

    Scotch is slightly cheaper now, too. Dalmore 15 was selling for $120 last year and is around $100 now. Two years ago, Dalmore King Alexander was $340 but can be found in the grocery store for $280 now.

    What I haven't seen yet is a drop in price of Burgundy. I can't afford to pay $300/bottle for a Nuits-Saint-George Gran Cru.

    Even looking away from luxury booze brands, the cost of cocktails is also very high. I have to pay $21 for a cocktail at a moderately priced restaurant in my area.

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  • [–] 11 points 3 months ago (3 children)

    Cocktails are a scam. Most places (and even some of the best places) are using cheap base ingredients, and the end results are gimmicky, boring, and lacking in complexity. At best, the median quality cocktail is nice to look at and features an acceptable balance of sweetness and acidity. A fucking glass of cold juice wins on a head-to-head of those metrics almost every time haha.

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  • [–] 1 point 3 months ago (1 child)

    Yeah, there is a difference between an $8 and a $20 cocktail.

    Though I agree with you that too many places will charge a $20 price for a $8 quality.

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  • [–] 2 points 3 months ago*

    Bars with overpriced drinks hate this one weird trick:

    1oz Campari - $1.10

    1oz Red vermouth - $0.75

    1oz Gin - $1.50

    1 orange peel sliver - $0.1

    Ice

    100% premium ingredients. A dalmation could prepare it. $3.45 cost, sell it for double @ $7.

    I know it's an unc take, but I just don't understand where the appetite for $20+ cocktails comes from. Maybe I'm just poor, like the person said below.

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  • [–] 16 points 3 months ago (1 child)

    I remember my dad saying when he started going to bars with his friends they would have beers because they were half the price of cocktails that were 3 bucks. Now a beer is ten bucks with a tip. Who the fuck wants to pay that?

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  • [–] -1 points 3 months ago* (last edited 3 months ago)

    cocktails are 20 bucks plus tip. still half the price of beer. more than an appetizer and almost as much as an entree at this point.

    basically 25 bucks for a single drink at your average bar. fancy places high end you're talking closer to 30-40 per drink, which at that point you might as well start just ordering the $200+ bottle of wine, as it will be cheaper.

    and every bar around me is packed most weekends, because where i live people don't think twice about blowing $500 eating and drinking in a weekend. but then they all cry about how poor they are... yeah it's hard not to be poor if you are drop 2,000 a month on booze and eating out every month.

    i had a renter a few years ago who would come home shitfaced every weekend and then not pay the rent for like two weeks. they were shocked when I terminated their lease 60 days later.

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  • [–] 158 points 3 months ago (24 children)

    MILLENNIALS destroying ANOTHER thing! WHY don't they just SPEND the Money we DONT give them on these BAD things that will Make them Feel like CRAP while making US Richer?

    -Billionaires!

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  • [–] 72 points 3 months ago* (20 children)

    Oh no, it's definitely the zoomers for this one. Millennials were big on cocktails.

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  • [–] 55 points 3 months ago (15 children)

    Millenials were also big on the whole craft beer thing (at least in North America, not sure how that trend played out in the rest of the world).

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  • [–] 27 points 3 months ago (11 children)
  • [–] 17 points 3 months ago (9 children)

    In the case of the craft beer market, it's not nearly as overhyped as it once was.

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  • [–] 5 points 3 months ago (1 child)

    not here, there's at least one craft brewery in every town.

    also you made it sound like the past tense applied to the millenials themselves :P

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  • [–] 6 points 3 months ago

    It's because anyone over 30 automatically becomes a boomer. Gen X has been all boomers for a long time and no one noticed. Millennials are critically endangered, but if you donate to my "save the Millennials" fund, we may be able to bring them back from boomerism before it's too late.

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  • [–] 2 points 3 months ago* (6 children)

    Well, there was awhile when you could walk into a brewpub and order a variety of things. Stouts, ESBs, barleywines, porters...then Trump got elected the first time, and all beer became IPAs. They must be cheaper to make or something, but people who like beer that tastes like anything other than dogwood leaves were just fired as customers.

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  • [–] 4 points 3 months ago

    Yup. But millenials are getting to an age where hangovers are just not worth it, and you get gens are not continuing the slack. All my younger friends use all sorts of substances, but rarely alcohol...

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  • [–] 78 points 3 months ago (2 children)

    They didn't "lose money", they made less money than they thought they were going to make, or hypothetically could have made if we were living in some imaginary situation instead of actual reality.

    If I go to my fridge and find out that there isn't as much ketchup in there as I thought there was I don't write an article whining about all the ketchup I've "lost".

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  • [–] 28 points 3 months ago (2 children)

    Someone needs to bail out Czech republic

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  • [–] 47 points 3 months ago (4 children)

    The legalization of Marujuana, edibles and young people collectively don’t go to bars anymore, I wonder if the amount of drunk driving has declined.

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  • [–] 13 points 3 months ago (2 children)

    I want to say no.....but I don't have any way to know that I'm right. I'd assume the number of young drunk drivers has gone down. And I assume drunk driving will go down drastically once the boomers start their giant death toll numbers. But that'll be over the next 20 years. My mom is 80. My grandma lived to be 103. The youngest boomers are 60.

    But again, I have zero clue how right I am.

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  • [–] 46 points 3 months ago (20 children)

    I wonder if this industry is responsible for the surge in anti-cannabis content I'm seeing pushed in my social feeds of late.

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  • [–] 19 points 3 months ago

    A long time ago I saw a website that had a sort of humorous dictionary on it. The entry for DEA always stuck with me:

    D.E.A. - Distiller's Enforcent Apparatus. An army of masked thugs licensed to rob, defame, kidnap or kill those suspected of preferring other drugs over alcohol.

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  • [–] 13 points 3 months ago (9 children)

    Two things can be harmful to health at the same time. Both cannabis and alcohol have negative effects to your health.

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  • [–] 5 points 3 months ago (7 children)

    True, but also is true that one is way worse for your health and has had a metric fuck ton of studies. But the way you sound, it sounds like your pushing alcohol.

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  • [–] 8 points 3 months ago* (6 children)

    What mental gymnastics did you do to go

    from

    "Both Alcohol and Cannabis have negative effect on your health."

    To

    "It sounds like your pushing alcohol" (should be you're btw)

    I'm pushing for neither, we should reduce alcohol consumption and weed consumption and even tobacco consumption for that matter. I want society to be healthier in general

    I want socio economic conditions be so good, no one should feel the need to use any kind of intoxications to feel happy. I want adaquet mental health support.

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  • [–] 5 points 3 months ago (2 children)

    I want socio economic conditions be so good, no one should feel the need to use any kind of intoxications to feel happy. I want adaquet mental health support.

    LOL! Not happening in our lifetime. Enjoy the weed

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  • [–] 3 points 3 months ago (1 child)

    Agreed.

    I never used weed to feel happy. I never even thought it made me feel happy. Giddy, elated, calm - sure. But I keptt going back to it because I thought the time perception distortion effect and the visual/audio effects were fascinating.

    I suppose there's a difference between use and abuse, and that drugs affect individuals differently. But damn, if all you get out of weed is "happy," I feel like you're missing out! (Not that happiness isn't important)

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  • [–] 5 points 3 months ago

    For me, the happiness from weed comes from enjoying everything more.. food, drink, sex, movies/tv, doing nothing, video games.

    I live with cryonic nerve pain and life can be pretty miserable. Weed doesn't make it hurt less, just easier to ignore because everything else is better. I've tried all the pills doctors give me and they have been useless so far, but I'm always willing to try whatever promises relief

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  • [–] 3 points 3 months ago (3 children)

    Where are you seeing it exactly?

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  • [–] 18 points 3 months ago (6 children)

    When I hit my late 20s (a decade ago...) I pretty much just upped and stopped drinking. No problem, no real reason just didn't enjoy it anymore. Now I maybe go through a six pack or two a year mostly when doing yard work, or will have a beer socially once a month or every other month. Its just too expensive and I got better shit to do.

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  • [–] 7 points 3 months ago*

    i used to like to drink because it was fun and tasted good.

    now most places serve the same shitty drinks that are not worth the crazy prices they charge. very few places offer worthwhile alcohol service anymore. every place has like the same 8 drinks they push. it's boring to drink the same boring flavored drinks over and over. $20 for a shot of cheap vodka and a ginger beer and a squirt of lime juice is utter insanity. esp when i can go to another bar and pay that same price and get an actual good cocktail with a unique and interesting flavor.

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  • [+] -7 points 3 months ago (3 children)

    That doesn't sound like you stopped.

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  • [–] 8 points 3 months ago (2 children)

    I mean not 100% obviously but went from going out drinking weekly to going so long without drinking I might not remember the last time I had a beer. Point was pretty much everyone I know.has cut back significantly.

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  • [–] 5 points 3 months ago

    Yeah don't listen to that guy, good stuff. Drinking a little is fine, especially in small moderation like that, although I'm sure someone will show studies that having even a single drop of alcohol is still harmful.

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  • [–] 2 points 3 months ago

    I'm on the same road, friend. My social group has a lot of social tokers. I'm a mmj user. Hoping they keep me around or use me as their excuse to light up. I was the DD for a different group and when I started using the mmj they saw a hell of a lot less use for me (some friends, huh?)

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  • [–] 16 points 3 months ago (2 children)

    Dear gods! I started working on losing weight last year and all but quit drinking. Are you telling me I tanked the industry?!

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  • [–] 13 points 3 months ago* (last edited 3 months ago) (2 children)

    Keep increasing the price to ensure it gets worse. Please legal drug dealers. Price yourself out of work.

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  • [–] 3 points 3 months ago

    The line must go up, they say, and these guys can't come up with all kinds of schemes for subscriptions or selling your data to extract more cash, government is often limiting their marketing, so they're restricted to lowering quality and increasing prices until you run out of customers.

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  • [–] 13 points 3 months ago (1 child)

    I went sober for various reasons years ago. I wish I could say it saved me money though, now I spend my vice money on fancy food instead.

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  • [–] 13 points 3 months ago

    Millennials are killing the carcinogen industry!

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  • [–] 25 points 3 months ago

    Well that's what happens when you socially engineer an alcoholism epidemic to boost sales in the near-term, but then people grow up and realize they need to quit drinking or else they'll continue destroying their lives on repeat like it's groundhog day or something

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  • [–] 11 points 3 months ago

    Obligatory:

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  • [–] 34 points 3 months ago* (8 children)

    Canada’s boycott of big US manufacturers has helped as well.

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  • [–] 16 points 3 months ago (5 children)

    Nah. We stopped buying American, and instead we buy Canada and Scotland and New Zealand alcohol products. It's not a reduction, just a delicious shift.

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  • [–] 5 points 3 months ago (4 children)

    Are the worlds largest producers of beer wine and spirits mentioned in this article Canadian? Because if not, I don't see how it's relevant.

    If they ARE Canadian....really? Are you sure? There's one that begins with an M thats Canadian. Moltav or something like that. I'd know it if I saw it. Other than that one, I can't think of any Canadian beer.

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  • [–] 7 points 3 months ago* (3 children)

    Molson

    There's lots of craft beers on Canada now. At least, that's most of what I've bought lately but I don't drink very often.

    Shout out to Granville Island Winter Ale. Goddam delicious!

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  • [–] 1 point 3 months ago

    There may be a lot of craft breweries in Canada now, but if they only sell in Canada and maybe the US border region you're still looking at a fraction compared to even a US-only producer based on population alone.

    Unless they are massive, like the scale of something like Budweiser... They're probably not part of the "world's biggest producers".

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  • [–] 8 points 3 months ago (1 child)

    Scotland is seeing a huge drop in scotch sales, and France is seeing a huge drop in wine sales. Even though the US producers are seeing a bigger drop due to Canada's boycott, the rest of the world is also seeing a drop even accounting for the Canadian shift to their products.

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  • [–] 9 points 3 months ago (2 children)

    Are habits changing? My guess is that, over time, people are being squeezed for more and more of their cash as things get too expensive. Habits aren't changing, industries are pricing themselves out of customers. This is bigger than just alcohol sales.

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  • [–] 8 points 3 months ago (1 child)

    What’s the cannabis revenue?

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