Deadly Sushi
Formerly The Giant Mojito
By Associated Press business staff
February 02, 2010, 11:06AM
Associated Press fileWith the economy in the dumps, Americans are turning to cheaper liquor and drinking it at home, not in bars.
NEW YORK -- An industry report (PDF) shows Americans' love affair with top-shelf booze cooled last year as the recession took a toll on high-priced tipples.
The report by an industry group shows people drank more but turned to cheaper brands. They also drank more at home and less in pricier bars and restaurants. Industry growth slowed in 2009, with the amount of liquor sold by suppliers up 1.4 percent. That's the smallest increase since 2001 and below the 10-year average of 2.6 percent.
Last year, the lowest-priced segment, with brands such as Popov vodka that can go for less than $10 for a fifth, grew the fastest, with volume rising 5.5 percent, after edging up 0.6 percent in 2008. Meanwhile, the most expensive price range, roughly $30 or more for a 750 ml bottle (think Grey Goose, owned by Bacardi), fell the most, tumbling 5.1 percent.
The Distilled Spirits Council of the United States said in its report Tuesday that liquor suppliers reported flat total revenue of $18.7 billion last year.
Kenneth Jolly of Milwaukee has been swapping his favorite, pricier liquors such Patron tequila, for cheaper brands such as Jose Cuervo to stay on top of his budget. For him, it's simple math.
February 02, 2010, 11:06AM
Associated Press fileWith the economy in the dumps, Americans are turning to cheaper liquor and drinking it at home, not in bars.
NEW YORK -- An industry report (PDF) shows Americans' love affair with top-shelf booze cooled last year as the recession took a toll on high-priced tipples.
The report by an industry group shows people drank more but turned to cheaper brands. They also drank more at home and less in pricier bars and restaurants. Industry growth slowed in 2009, with the amount of liquor sold by suppliers up 1.4 percent. That's the smallest increase since 2001 and below the 10-year average of 2.6 percent.
Last year, the lowest-priced segment, with brands such as Popov vodka that can go for less than $10 for a fifth, grew the fastest, with volume rising 5.5 percent, after edging up 0.6 percent in 2008. Meanwhile, the most expensive price range, roughly $30 or more for a 750 ml bottle (think Grey Goose, owned by Bacardi), fell the most, tumbling 5.1 percent.
The Distilled Spirits Council of the United States said in its report Tuesday that liquor suppliers reported flat total revenue of $18.7 billion last year.
Kenneth Jolly of Milwaukee has been swapping his favorite, pricier liquors such Patron tequila, for cheaper brands such as Jose Cuervo to stay on top of his budget. For him, it's simple math.
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