Young adults across the globe are drinking less, as indulgence costs more
From Fortune:
Younger generations are choosing to drink less, with 41% of Americans wanting to consume less alcohol in 2024, according to a NCSolutions survey. The decline in drinking is also happening in China, with young adults drinking less due to factors like unemployment. Another factor contributing to the decrease in alcohol consumption is growing interest in non-alcoholic beverages, with sales increasing by 113% from 2020 to 2021.
The pandemic has accelerated the trend of young adults drinking less, with the number of young adults who drink at all decreasing over the past two decades, according to a Gallup report. On the contrary, older Americans are drinking more, attributing this to Baby Boomers and greater economic resources. Furthermore, factors like weed legalization and mental health awareness are also contributing to the decline in alcohol consumption among the younger generation.
Many consumers, especially Gen Zers, are choosing to drink non-alcoholic beverages or avoiding alcohol altogether. Factors include high costs of going out and a general trend towards introversion and less visible acts of drinking. Online image-consciousness is also impacting the drinking habits of younger generations. With factors like increased interest in non-alcoholic products and a growing habit of drinking at home, there is a clear decline in alcohol consumption among the younger generation.
The decrease in alcohol consumption in younger generations has created a new era of abstinence, reminiscent of prohibition. Contributing factors include the state of the economy, sociopolitical issues, and a change in drinking culture. Additionally, with increased interest in non-alcoholic beverages and growing online image-consciousness, younger generations are choosing to drink less or not at all.
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