Generation Z
is growing up with an aversion to alcohol, in part because its members don't
want to look wasted when they take selfies with their fancy smartphones. Millennials? They're starting families,
furthering careers and acting more responsibly, which makes their trademark
binge drinking less desirable. Then
there's Generation X, the supposedly nihilistic blank generation. They'll take
on the drinking habits of their parents, the Baby Boomers, as they age. And those Boomers? They're declining in numbers
because, well, they're old.
All this is
bad news for the alcoholic beverage industry, according to an exhaustive new
report by Berenberg analysts that breaks down the demographic drivers that will
continue to flatten the booze business in general and wallop Big Beer in
particular. "The Baby Boomer
generation gave way to the Generation X ravers, who then gave way to the
binge-drinking millennials," says the 68-page beverage analysis by Javier
Gonzalez Lastra and Matt Reid. "Each
generation brought a fresh market of thirsty consumers from which alcoholic
beverage companies could recruit. With the arrival of Generation Z unlikely to
bring similar opportunities, companies may be forced to look for growth in the
existing consumer market. Unfortunately, the data suggests that the older
generations are unlikely to provide the required growth."
Generation Z:
You're So Vain
Generation Z,
who are entering the workforce as we speak, are considered by the authors to be
people born on or after 1996, which would make the first batch of them 21 years
old. Some takeaways from the report:
Generation Z does not think alcohol is "cool."
The smartphone generation does not want to appear drunk on camera, and being
hungover carries a stigma. Members of
Generation Z are drinking at least 20 percent less than their counterparts in
the millennial generation. Members of
Generation Z will drink at least 10 percent less per capita than millennials
did between the ages of 18 and 49. Of
those who do take a drink, Generation Z is the first generation to prefer
spirits over wine or beer.
Millennials
Are Slowing Down
Millennials
drank more than Generation X. Yet millennials are now becoming more
health-conscious as they age and are actively limiting alcohol consumption, the
authors say, citing a raft of studies. Between
the ages of 35 and 49, millennials will begin to drink slightly less than their
counterparts in Generation X.
Millennials between the ages of 50 and 64 will drink more
than Generation X did at the same age.
Millennial beer drinkers are more likely to drink craft
beer than any other generation.
Generation X:
The New Boomers?
Generation X
tend to drink more per capita than the members of the Silent and Baby Boomer
generations they replace in the 65-plus age category. Beer was the favored drink of 72 percent of
Generation X when it was 18-29 years old. They drank far less wine than
millennials do now.
This is an
interesting article and it goes on to show how the alcohol industry is
responding to these changes from generation to generation. You can Read More at https://www.benzinga.com/analyst-ratings/analyst-color/17/09/10059536/a-nation-of-shrinking-drinkers-who-wins-and-who-loses-a .
