Here's Why The Liquor Industry is Losing Billions in Revenue | Really? no, Really?
Really? no, Really? with Jason Alexander & Peter TildenShow Notes
Alcohol consumption globally has hit it's lowest rate since the 1930s. This has resulted in $830 billion of liquor stocks being wiped off. Multiple US distilleries have filed for bankruptcy. There's supposedly a lake of 220 million gallons of alcohol somewhere that can't be sold. Wineries all over the world are backed up resulting in wine revenue down over $1 billion last year. So who's to blame for this? Millennials and boomers? On this episode of Really? no Really?, Jason and Peter sit down with with celebrated author, Doug Melville, who recently was a former board executive of luxury group in Switzerland. He'll break down down the complexity behind the the liquor industry's decline.
It's easy to blame younger generations like Gen Z for the current situation because the liquor industry relies on younger drinkers. It's true the younger generation is more focused on living healthier lifestyles and are preferring liquor that has fewer calories and less likely to give them a hangover. However, Doug addresses that current state of drinking isn't just a generational issues. It's also a political issue with Republicans have a double digit drop in alcohol consumption whereas Democrats have had a two percent decrease in alcohol consumption over the past few years. Doug also explains how it's a class issue as well.
You may have seen Doug interviewed by Charlamagne Tha God on The Daily Show regarding his best-selling book, Invisible Generals, The Quest To Honor America’s First Black Generals. We'll also delve more into that discussions. He's partnering his book with his favorite types of bourbon. Learn more about your ad choices. Visit megaphone.fm/adchoices
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