What got the team talking this week

Weekly insights from the Trail

March 27, 2025April 3rd, 2025

Uncorking a new consumer trend

Younger consumers are drinking less – after adjusting for inflation, Americans under 25 years old spent ~60% less on alcohol in 2023 than their counterparts did in 2003. The decline in alcohol consumption by the younger generation to date has been offset by heavier drinking in middle age. However, as today’s middle-aged drinkers age, Morgan Stanley believes this will be a headwind to overall alcohol consumption volume.

Source: Bureau of Labour Statistics, Washington Post, Morgan Stanley Research (March 2025)

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Weekly insights from the Trail