Jon Taffer: Millennial beer sales are way down
'Bar Rescue' host Jon Taffer on the shifts in alcohol consumption and the growing number of emotional support animals in plane cabins.
Americans aren’t drinking booze like they used to.
Millennials are disrupting the beer industry, according to Jon Taffer, the host of the Paramount Network’s “Bar Rescue,” who said sales in the beer industry are declining as millennials turn to other options.
“What’s happening to the beer companies is, they are losing all their craft beer sales but the core brands are getting destroyed,” Taffer told ’ Stuart Varney Opens a New Window. . “So light beers -- Coors Light, Miller Light, Bud Light -- they are consumed later in the evening after people have one or two craft beers and they move into a light beer direction.”
Craft breweries in the United States make up 98% of the brewing industry as a whole, according to a trade group representing small and independent American craft brewers, and account for roughly 23% of the overall U.S. beer market.
Taffer added that they are willing to shell out up to 30% more on craft beers to quench their palates.
Source:www.foxbusiness.com
