Australia's Liquor Industry Struggles Amid Changing Consumer Habits

On a scorching Boxing Day in Melbourne’s inner city, Andrew Crompton is busy inside his store, Act of Wine, meticulously placing bottles of prosecco and Yarra Valley pinot noir on display shelves. The Southbank bottle shop owner is preparing for the lead-up to New Year’s Eve, traditionally one of the biggest weeks for alcohol retailers. But he’s the only employee in the store.

Crompton opened the store in 2018, but has recently operated it solo after witnessing a steady decrease in sales in Australia’s liquor industry over the past 18 months. “I’ve really had to restructure the business and make changes to suit the changing demand and economy … that includes having less staff available to work in the business,” he said. The Australian retail sector has weathered a tough 2024, with higher interest rates forcing consumers to tighten their belts. But despite consumers the liquor industry is still struggling more than the rest, and the end of the festive season is unlikely to lift spirits. Australia is one of the world’s wealthiest countries per capita and traditionally has one of the highest spending on alcohol per capita. Bottle shops around the country thrived during However, spending on liquor has been trending downwards over the past few years. A key factor behind the decline is changing attitudes among young people.Khaléla Romano will be ringing in the new year with friends while watching fireworks, but she won’t be drinking alcohol.The 23-year-old Queensland university student has elected not to drink on Tuesday evening, admitting she would rather spend her money elsewhere. “I live with three other people in their 20s and none of us are particularly big drinkers,” she explained. “We don’t really have alcohol in the house. “A night out or purchasing liquor in general can be pretty expensive … To be honest, I’d rather spend my money on more important things like food, rent or experiences in genera

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Australia's Liquor Industry Faces Downward TrendDespite Australia's high per capita wealth and historical alcohol spending, the liquor industry is experiencing a decline in sales. Factors contributing to this trend include changing consumer attitudes, particularly among younger generations who are opting to spend their money elsewhere.
Fonte: smh - 🏆 6. / 80 Consulte Mais informação »

Liquor industry faces hangover as young toast New Year alcohol-freeThe Australian liquor industry, which has weathered a tough 2024, faces a future where the young increasingly abstain.
Fonte: theage - 🏆 8. / 77 Consulte Mais informação »

Effie Kats' Resilience Shines Through After Industry StrugglesEffie Kats, who faced significant challenges in the fashion industry, including the collapse of her first label Zachary, has seen her eponymous brand gain considerable attention, especially after dressing 20 celebrities during this year's spring racing carnival.
Fonte: smh - 🏆 6. / 80 Consulte Mais informação »