TIL World’s biggest beer, wine and spirits producers have collectively lost $830 billion in market value over just four years. Changing drinking habits and rising health concerns have hit earnings across the sector. Millennials and Gen Z are also not much interested in alcohol.
Scotland is seeing a huge drop in scotch sales, and France is seeing a huge drop in wine sales. Even though the US producers are seeing a bigger drop due to Canada’s boycott, the rest of the world is also seeing a drop even accounting for the Canadian shift to their products.
I really think it’s the wealth inequality. People can’t afford it.