Cheap Beer Drinkers Get Even Cheaper
Or maybe they've just realized that they've been paying extra for MGD, but it doesn't actually taste any better than High Life or Best. So why bother?
MILWAUKEE--Cash-strapped drinkers are starting to trade down to economy beers, the chief executive of Miller Brewing Co. said Thursday.
The Milwaukee-based brewer saw some shift between higher-priced, premium beers and economy beers such as Miller High Life and Milwaukee's Best starting in January, Tom Long told reporters on a conference call.
"We think it's primarily driven by decline of disposable income and pocket money that American consumers are feeling right now," he said.
Long said the volume of beers sold remains stable, but the company expects to sell more lower-priced beers this year if gas prices continue to rise.