US household alcohol spending 0.77% last year, lowest since 1984
Business
Alcohol spending in the US just hit its lowest point since 1984: last year, only 0.77% of household budgets went to booze, even less than during the COVID-19 lockdowns.
This steady drop shows that Americans are moving away from alcohol more than ever.
US drinking declines, brands respond
Only about one-half of Americans say they drink at all these days, with wellness trends and health advice playing a big role.
Alcohol brands are trying to keep up by rolling out pre-made cocktails and fancier options for people who want to drink less but enjoy better quality.
Still, big names like Diageo and Brown-Forman have seen their stocks take a hit as drinking habits change.