There’s rumbling in the beer industry this week. America’s biggest independent brewer Boston Beer Company was downgraded by Goldman Sachs, based on decreased sales and unfavorable upcoming projections for the beer industry in general.
Why? Wine and legal cannabis is taking its toll on the suds.To be fair, Goldman actually cited three main factors hurting the beer industry. One, millennials simply aren’t drinking as much as previous generations. The coveted demographic has seen almost a decade worth of consumption decreases.
Two, what that generation is drinking isn’t beer, it’s wine and spirits. And, lastly, there has been a big upswing in marijuana sales that has dented beer sales over the past few years.
So as much as we like to talk about how big the beer industry is becoming, it really is still struggling to keep up with an ever-widening marketplace of intoxicants
READ THE FULL STORY BELOW