WSJ tackles craft beer in the recession

Posted Mar 18, 2009 in Beer, Breweries, Brewpubs, Coolness, In the news

 

While mostly everyone drowned their sorrows yesterday over the mess that is AIG, a poor economy, and lost jobs, good news comes out of craft beer again! And it’s the Wall Street Journal, the “smart” newspaper. In their “Running a Business” section, David Kesmodel, confirms that craft beer is still growing despite our country’s current woes. Some highlights:

Last year, even as a recession gripped the country, 114 microbreweries and brewpubs—restaurants that make their own beer—opened in the U.S., according to the Brewers Association, a Boulder, Colo., trade group. That marked the highest number since 1999. …

Beer entrepreneurs have also been emboldened by a long list of recent success stories in the small-batch, or “craft,” beer arena, as well as statistics showing that Americans are consuming craft beer in increasing numbers. “It’s the consumer that’s creating the demand,” Mr. Gatza says.

Beer has long proved more resilient in recessions than other industries. Total U.S. beer sales increased last year—though just under 0.5% by volume, estimates industry newsletter Beer Marketer’s Insights. Sales of craft beer, the industry’s fastest-growing segment, rose 6% by volume, and dollar sales jumped 10.5% to $6.3 billion, according to the Brewers Association.

Beer is taking market share away from distilled spirits, and craft beer in particular is looking like an affordable luxury. “I’m finding that people who are used to drinking $15 martinis think a $5 pint of decent craft beer is pretty reasonable,” says Tracy Hurst, who with her husband Doug founded the Chicago microbrewery Metropolitan Brewing LLC.

Beer will save the world, people. Pretty sure.

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