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Sunday, September 07, 2008

Hard Times? Have a Beer

So it has it always been: when the economy goes south, people buy beer:
More than 16 million barrels of domestic beer were sold in the United States in July, and annual sales through that month are up 1.4 percent, the largest increase since 1990, when the economy was headed toward a recession, according to the Beer Institute....

Economists David Blake and Angelika Nied found in 1997 that beer consumption, unlike other categories of alcoholic beverages, increases with unemployment in the United Kingdom. The study also showed that beer is "income inelastic" -- that is, less income does not translate into spending less on beer.
Of course, I don't care if Belgium's Budweiser (snort) sells well--but the news for expensive craft beer remains good:
At supermarkets and convenience stores, Nielsen research shows, sales of craft and "superpremium" beers such as Michelob and Rolling Rock have jumped by double digits this year.
Hat tip to Maureen Ogle, who was quoted in the article.

2 comments:

Scott-The Brew Club said...

Hey, its all about priorities! There's always a way go get some cash for beer, even if there isn't any for anything else! Beer is essential plain and simple!

iggi said...

when people are poor, they get depressed - then they drink. i wonder if liquor sales were up as well

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