| The ball dropped, cheers were had and kisses were shared as the clock struck midnight ringing in 2011. And let’s not forget millions of champagne toasts that took place across the country.
Americans’ budgets may still be tight, but they don’t have a problem splurging to celebrate a new decade – well, almost. New Year’s Eve is still the biggest shopping day for liquor stores, but shoppers are downgrading their palates.
“Last year, when the economy was at an all time low, people continued to buy stuff, but we see people downgrade. When the economy is bad people don’t stop drinking, they just drink less expensively,” said Charlie Patel, manager of Stones River Total Beverages.
Customers who used to purchase $15 or $20 bottles of wine begin opting for $5 or $10 bottles, he explained. The same is true of liquor drinkers.
“Jack Daniels gets replaced with something along the same level that tastes the same, but is half the price,” Patel continued.
MTSU graduate Miles Fuqua said when he has extra cash, he opts for a nice bourbon – something better than his usual choice of Rebel Yell.
“If you can’t afford it, you can’t afford it, but that still doesn’t mean you’re not going to buy something that tastes similar. If I can’t afford a T-bone, that doesn’t mean I’m not going to buy some kind of steak,” Fuqua said. “I drink Rebel Yell – there’s a financial reason behind that.”
Liquor’s share of all alcoholic beverage sales fell to 32.9 percent in 2009 from 33.1 percent in 2008, according to a report released by the Distilled Spirits Council of the U.S. in February. Numbers have yet to be released for 2010.
“This year, it feels like people are starting to spend more,” Patel pointed out. “This Christmas was better than last Christmas. It’s tending better, but nothing that is overwhelming.”
However, Patel said that it’s tough to distinguish whether the increase in spending is reflective of higher consumer confidence or continued growth in Murfreesboro.
Overall sales on New Year’s Eve is also not an indication of the upcoming year.
“We trend based on Thanksgiving and Christmas time,” Patel continued.
“This year we’ve seen some improvement. The hospital (Middle Tennessee Medical Center) opened in October, so it’s only been open 3 months now. Next year we’ll have had it near us for 12 months, and that’s thousands of people not even a block from us. There are a lot of factors that could help our sales continue to improve next year.” |