As we bid adieu to the roaring twenties of the previous century, it seems the new generation is flipping the script. No longer are speakeasies filled with boisterous crowds seeking the illicit thrill of a forbidden drink. Instead, these modern watering holes are fast becoming echoes of their former selves, as an increasing number of young adults choose to abstain or moderate their consumption of alcohol.
According to a recent survey conducted by advertising company NCSolutions, a whopping 41% of Americans say they plan to drink less in 2024. This sentiment is particularly prevalent among Gen Zers, with 61% expressing an intention to pull the plug on their drinking habits.
International Trend Towards Sobriety
This trend is not confined to the United States. Recent research from IWSR indicates that young adults in China are also drinking less, a shift attributed to a 20% unemployment rate amongst college graduates. Data from 2022 shows that nearly half of adult drinkers across 17 focus markets expressed a desire to moderate their alcohol consumption. This trend is having a noticeable impact on the luxury market. Sales of premium wines are down according to Silicon Valley Bank’s 2024 State of the US Wine Industry report, and the high-end spirit industry is also feeling the pinch.
Factors Influencing the Shift
So, what’s driving this change? A myriad of factors, it seems. The rising cost of going out, coupled with a general trend towards introversion, makes beer, wine, and spirits less appealing to consumers. The increase in marijuana consumption and greater awareness of the health effects of alcohol also play a significant role.
Confirming this trend, a 2023 Gallup report revealed that the number of young adults (18 to 34) who say they drink at all has decreased from 72% to 62% over the last two decades. At the same time, older Americans seem to be bucking the trend, with the number of drinkers aged 55 and older increasing from 49% to 59% over the same period.
Home is Where the Heart (and Drink) is
When Gen Zers do choose to drink, it’s often within the comfort of their homes. As many as 60% of women drinkers told delivery app Drizly that inflation has impacted how often they go out. One in five respondents said they plan to drink from home more frequently in 2023 than in 2022. This trend isn’t exclusive to those who imbibe; non-alcoholic delivery sales skyrocketed by 290% in 2021, as per Drizly.
In this new era of self-imposed abstinence, the prohibitive factors are not government regulations or fear of crime, but economic and sociopolitical issues. It seems that the thrill of the speakeasy has given way to the allure of a quieter, more introspective lifestyle. But one thing’s for sure, whether it’s a $20 cocktail at a swanky bar or a homemade mocktail, the choice remains in the hands of the individual. As the old saying goes, “Different strokes for different folks.”
As this trend continues to unfold, we’ll be watching closely to see how it shapes the future of our society. For more insights on the latest trends, subscribe to the BBC Business newsletter.
