Cold beer on a Friday night? Maybe non-alcoholic.
Only 54% of drinking-age Americans consume alcohol today, according to a recent poll from Gallup, the lowest proportion since the survey began in 1939. Even those who do drink are partaking less, by a factor of nearly half.
The US is drinking less, and cultural connotations around alcohol consumption have shifted. The number of Americans who see drinking as bad for their health has increased every year since 2016, according to Gallup.
These changes are hurting the country’s biggest alcohol producers, forcing them to find ways to adapt to what might, according to several experts, be the early stages of a tobacco-like sea change for alcohol.
On Coors-maker Molson Coors’ (TAP) most recent earnings call, an analyst buzzed in to ask: Could consumer behavior get worse before it gets better? Or was the distributor seeing any bullish signs?
MORE:
https://www.aol.com/americans-arent-drinking-anymore-alcohol-203502637.html?guccounter=1