Everyone enjoys a good story from their parents about their good ol’ college days. One of my favorites is when my mom went out for some beers with her friends; she put down a large wine bottle filled with pennies as their way to purchase a pitcher of beer. The bartender took one look at all that change and told them, “It’s on the house this time.”
College students are infamous for not having much money and scrounging up whatever they can to go out to eat or buy alcohol. But what about the rest of the population? Is it true the alcohol industry is recession proof? Here’s an interesting article I found from the beginnings of our most recent recession: http://www.postandcourier.com/news/2009/jan/31/recession_proof70203/
In times when the economy is down, the alcohol industry isn’t so down. "There is still growth [showing] that the spirits business is "recession resilient,"Peter Cressy stated in regards to the alcohol industry. People are hard up for cash and are saving in many areas, but still purchasing alcohol. Sure, the percentages for alcohol purchases are a bit lower that when the economy is on the up, yet they aren’t lowered enough to show that people are willing to give up that after work cocktail or Monday Night Football with the guys. The statistics showed that people tended to buy less of the more expensive types of alcohol, like spirits, and that they gravitated more to buying beer. Yes beer is more affordable, but that money is still money spent when everyone is so concerned with savings!
Clearly alcohol has become something of a priority in people’s lives, whether it is strictly social or as a way to “de-stress;” its deemed almost necessary for a good portion of the nation, especially in the worst of times.
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