Craft Brews, “The Champagne of the Recession”:
Craft breweries report growth during economic recession
Written by Aaron Warshawsky (aka "Brewsky")
With more than 2.3 million households drawing foreclosures in 2009, Unemployment soaring to over 16% nation-wide, and a United States national deficit reaching an all time high to over 800 billion, the craft brewers are rejoicing. That’s because as the United States economy sinks lower and lower, the craft brewers are seeing growth and prosperity. The Brewers Association, which represents the majority of the United States brewing companies, reports that America’s small and independent breweries are growing despite the current national economic challenges.
Mid year reports show that 2009 has thus far seen significant growth. The craft brewing industry has sold an estimated 4.2 million barrels in the first half of the year, compared to approximately 4 million in 2008. Volume of brewed beer sold increased 5% as the well as the dollar growth from craft breweries up 9 %.
So why is craft brewing industry not feeling the effects of a poor economy? Marty Jones, a spokesman for Oskar Blues Brewery, in Lyons, Colorado, believes its because its comparably an inexpensive treat during these rough economic times.
“A really delicious, tastefully made beer is a really cheap luxury and a really low-cost way to escape the woes of the day,” Jones said. “The greatest wines in the world cost a thousand bucks a bottle. You can get some of the greatest beers in the world for under 10 bucks a six-pack.”
Justin Philips, a co-owner of the Beer Table Bar in the New York City borough of Brooklyn agrees with the interpretation: "Even in this economy, people want to treat themselves to really extraordinary things, [and] people are recognizing that there is a diverse world of beer. . . .It tends to be less expensive than other drinks."
And this economic growth that the Craft Brewing Industry is experiencing shows no signs of losing momentum. The majority of breweries across the country are confident that barrel production and generated sales will continue to increase well into 2010.
So as the United States becomes deeper and deeper in economic troubles, go to your local pub, raise a glass, and cheers to the hope of economic prosperity. The craft brewers would like that.