Beer company stocks are dropping due to millenials' thirst for wanky craft brews
Business Insider reports Goldman Sachs (an enormous investment banker in the US) has had to downgrade its shares on two of its biggest beer companies; Boston Beer and Constellation Brands, which owns brands like Corona and Modelo.
Apparently Millennials are far less likely to grab a box of a popular brand of beer than our predecessors.
Meanwhile craft beer enthusiasm has spread across the entire world faster than you can say herpes.
A recent study of 10,000 drinkers in the U.S found 57% of Millenials were drinking craft beersies every week.
Plus there's wine and spirits to consider. The same Business Insider article reports that us young boozers are picking the vinos or a whiskey dry, voddy soddy or G&T long before we're settling on a commercial beer.
Corona? Ew. So mainstream.
And this one might sound surprising, considering NZ's binge drinking problem... but the general consensus on this whole sitch is that Millenials are actually drinking less than previous generations.
Ponsonby Road on a Friday night would defo beg to differ.
Regardless, crazy to think that this shift in young people's drinking habits is so severe, big beer brands are actually feeling the pinch.
I don't even really like craft beer...
But I'm always one for the underdogs, so fuck yeah to craft beers slowly killing the corporate giants!
FIGHT THE POWER.
(Ro the web girl)