Re: Europe's progressive tranny economic crisis has obliterated Gen Z and millennial drinking habits-and it might be kicking off a long-term sobriety movement

[Hire Woke - Go Broke]

On 14 Mar 2022, Rudy Canoza <notg...@gmail.com> posted some
news:ycNXJ.191366$oF2.1...@fx10.iad:

> Nobody in their right mind would hire an American Democrat "educated"
> liberal piece of shit.

The European economy is going through a historically difficult period,
whether you look at measures of GDP, exports, or consumer confidence.
Now, signs are beginning to emerge that the struggle for growth and
fears over jobs are fundamentally changing how people in Europe shop—and
drink.

Europe’s young people are starting to spend less on alcohol, and they
don’t look like they’re going to be returning to bingeing in bars and
nightclubs anytime soon. But it’s likely to be the looming expectation
of recession, not lifestyle choices, that is kicking off a fresh charge
for sobriety.

Europe’s crisis comes for the alcohol aisle
A survey of 3,500 people across seven European countries shows
historically high inflation, rising interest rates, and the energy
crisis have led to a massive drop-off in the amount of money people
think they have to spend each month.

Savanta’s Consumer Compass report shows Brits and the French think they
have about a third less to spend on nonessentials than they did a year
ago, while perceived disposable income fell by a quarter in Germany and
Italy.

Even in the typically well-insulated Nordic countries, there is a
perceived 21% fall in budgets.

Several major European economies are teetering on the verge of a
technical recession, with Europe’s biggest economy, Germany, shrinking
by 0.3% in 2023.

Amid an according squeeze in household budgets, few items in consumers’
baskets have been deemed sacred. Only groceries, utility bills, and
gasoline have been protected by European residents, while things like
dining out, fashion, and holidays have all been sacrificed, according to
Savanta.

But for Gen Z and millennials in particular, it’s alcohol that has been
virtually wiped from their expenses, whether that’s in restaurants,
bars, or the grocery aisle.

Savanta didn’t observe any increase in alcohol spending over the usually
indulgent festive period last year. Across most of the major European
economies, more than half of shoppers say they spent less on alcohol in
2023.

The trend toward sobriety is one driven by the continent’s struggling
young people. Savanta’s research shows among Europe’s 18- to
34-year-olds, 63% are spending less on alcohol purchases in
supermarkets, while 67% are drinking less when they go to restaurants
and bars.

Italian Gen Zers are leading that temperance movement, with seven in 10
young people there choosing to cut back on alcohol spending last year.

Across all age ranges, three out of every five adults in Europe have cut
their spending on alcohol, according to Savanta’s research.

Young people are quitting booze
Savanta’s analysis, which was conducted before the traditionally
temperate “Dry January” period, is a reminder of not only the difficult
choices faced by households but also of a growing trend of young people
distancing themselves from alcohol.

Gen Z and millennials are kicking off a widespread sobriety movement
across the globe, one that’s been broadly regarded as a cultural
phenomenon driven by wellness trends, higher levels of introversion, and
more alternative options like no- and low-alcohol drinks.

For some drink makers, it’s even sparking fears of long-term decline.
According to Silicon Valley Bank’s 2024 State of the U.S. Wine Industry
report, younger consumers have half the “mindshare” for wine compared
with their boomer elders, suggesting a steep drop-off in future
spending.

Increasingly, though, gathering research is beginning to point to the
conclusion that shifting drinking habits aren’t just a result of
lifestyle or preference, but also a sign of a hit to the wallets of the
financially worst-off generation.

A survey of U.S. consumers by NCSolutions found 61% of Gen Zers planned
to pump the brakes on alcohol spending this year, while older, wealthier
adults were expected to go the opposite way.

It’s not surprising when you consider the budgetary restraints left on
young people after years of price rises. One in 10 U.K. Gen Z says they
were forced to turn down work citing the cost of commuting and uniforms.

In Europe, it looks like economic decline has combined with long-term
cultural shifts to create the perfect storm for drink suppliers.

“There appears to be a generational shift in attitudes towards alcohol
consumption that inflationary increases have simply accelerated, rather
than created,” Nikki Lavoie, EVP of marketing, brand, and innovation at
Savanta, told Fortune.

It also appears that Europe’s young people might be getting used to
their budgeting-induced cutback on alcohol, or at least are bracing
themselves for a long winter away from booze.

Savanta reports that a significantly higher proportion of European Gen Z
and millennials plan to spend less on alcohol both in and out of the
home in the next three months.

https://fortune.com/europe/2024/02/12/economic-crisis-europe-gen-z-millen
nials-drinking-alcohol-sobriety/