But like most market bubbles, this one was bound to burst. The pandemic’s lockdowns tanked bar sales, and inflation has made many would-be bourbon drinkers choose less expensive options - or forgo drinking all together. Amongst Gen-Z, many 20-somethings are drinking less than their older siblings and parents did at their age.
It’s worth noting that drinking, drug use, nicotine use, and teenage pregnancy has gone down between each generation. Gen Z is drinking less than Millennials, who drank less than Gen X, who drank less than Boomers, who drank less than the Silent Generation, who drank less than the Great Generation (before that gets a little fucky due to Prohibition). This is correlated with better education and higher living standards.
Of course, the economy is changing as inflation eats into bread and circuses. I’m just pointing out it’s silly for these companies to expect anything different from what we’ve seen over the last 100 years. People don’t want to live like Don Draper where they’re drinking constantly throughout the day. Employers especially don’t want to go back to that type of office culture.
It’s worth noting that drinking, drug use, nicotine use, and teenage pregnancy has gone down between each generation. Gen Z is drinking less than Millennials, who drank less than Gen X, who drank less than Boomers, who drank less than the Silent Generation, who drank less than the Great Generation (before that gets a little fucky due to Prohibition). This is correlated with better education and higher living standards.
Of course, the economy is changing as inflation eats into bread and circuses. I’m just pointing out it’s silly for these companies to expect anything different from what we’ve seen over the last 100 years. People don’t want to live like Don Draper where they’re drinking constantly throughout the day. Employers especially don’t want to go back to that type of office culture.