Study Claims Boost In Alcohol Sales Means Americans Are More Confident About The Economy
People are feeling so good about the economy, they are celebrating by having a little wine with dinner. It seems there has been a boost in liquor sales at restaurants and bars and it’s all due to the economic recovery, speculates to a new study.
Having just come through the deepest U.S. recession since World War II, more Americans are drinking. Beer, wine, and spirits sales in restaurants, bars and other licensed locations increased 4.9 percent in 2011, according to a study by restaurant research firm Technomic. In dollars, this equals $93.7 billion in sales last year. And there are more drinks to go around. Beer imports into the U.S. also increased 6.5 percent this year, writes The Huffington Post.
Even in hard times Americans tend to continue to enjoy alcoholic beverages. But they tend to enjoy them at home. While alcohol sales fell in restaurants and bars, liquor sales at stores and supermarkets increased 1.2 percent, found a report by consumer research firm Mintel. CNNMoney data shows that in 2010, when unemployment grew to be as large as 9.6 percent, alcohol sales jumped 9 percent.