Though beer companies are merging left and right, the world's largest beer breweries are sounding a(nother) warning: Millennials — the most sought after demographic — are not drinking enough beer. Despite the rapid growth of craft beer across the country, it seems that America's beer drinking consumption is down, according to a new report from AdAge.
There's a marked 1 percent decline in consumption between this year and last. The statistic isn't limited to big beer, though brands like Miller, Budweiser, and Coors are hurting the most. Joe Thompson, the owner of beverage consulting company Independent Beverage Group fears that beer is steadily loosing "young drinkers. And somewhere down the road, we are going to pay a price for that." Though that 1 percent seems small, total beer consumption is on track to reach a nearly 10 percent decline since 2001.
Will an increase in price, clever advertising campaigns, or publicity stunts save America's biggest beer brands or are 20-somethings done with (bad) beer?