Drinkers are pushing back on expensive booze [Video]

The hangover has finally arrived for spirits and beer companies, as the surge in sales boosted by Americans who stayed at home during the COVID-19 pandemic has ended.Video above: Alcohol-free beer is gaining popularityEarnings from some of the world’s biggest alcohol makers — including Remy Cointreau, Absolut vodka maker Pernod Ricard, Jose Cuervo tequila producer Proximo Spirits and beer conglomerate Anheuser-Busch — have all recently reported declines in volumes or sales amid a push back from customers over higher prices.Overall volumes fell 3% for the first seven months of 2024, which was more than forecast, according to a report from drink analysis firm IWSR. All major categories were affected including tequila, American whiskey, beer and wine. The only bright spot was the canned cocktails category, which grew slightly at 2%.”As the spirits industry continues to recalibrate following the extraordinary sales boost during the pandemic, inflation and high interest rates are …