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Millennials: Ruining Everything Including Beer – Is Nothing Sacred?

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According to an article by HuffPost, it seems that millennials, who have been brutally blamed for ruining everything from extracurricular adult activities to the American dream, are now getting the blame for a downturn in the beer industry.

The generation that people appear to love to hate has recently caused a stir resulting from the downgrading of stocks for Boston Beer Company and Constellation Brand. These two include such beer brands as Angry Orchard, Samuel Adams, Modelo, Corona, and many more. According to a report obtained by CNBC, Goldman Sachs recently downgraded the stocks based on “sluggish sales” resulting from younger consumers opting for other spirits and wine.

Millennials: Ruining Everything…Including Beer. Is Nothing Sacred?

Photo: Pixabay

Freda Zhuo, chief analyst for Goldman Sachs recently identified, “As we explored back in 2014, we expected a cyclical rebound in total alcohol consumption post-recession. The cause [for shifts in beer and wine market penetration] is younger groups shifting away from beer.” An increase in the use of marijuana has also been cited as partially to blame for the lag in beer sales. And according to current indicators, the market could stay this way for the next decade. How does this bode for the Texas craft beer market? Although they appear to be fighting their own battles, the state’s craft beer sales and buyouts are showing that they’re holding their own. Nationally, however, beer is taking a blow in the market place. And, it’s not the only one.

Millennials: Ruining Everything…Including Beer. Is Nothing Sacred?

Photo: Pixabay

Vivien Azer, analyst for the financial services firm Cowen, stated recently, “We believe alcohol could be under pressure for the next decade, based on our data analysis covering 80 years of alcohol and 35 years of cannabis incidence in the U.S. Since 1980, we have seen three distinct substitution cycles between alcohol and cannabis; we are entering another cycle.” With this amount of data, and stock market experts analyzing all trends, it appears to be a sad state of affairs for the beer market specifically in the coming months and years. Millennials being blamed for the circumstances, you’ll soon see another onslaught of list articles explaining exactly how and why they should be forsaken as trend-setting consumers!

References:

CNBC

HuffPost

Mashable

Houston Chronicle

Market Watch