The Millennial generation has claimed its next victim: beer.
According to CNBC, Goldman Sachs downgraded both Boston Beer Company and Constellation Brand on the data that younger consumers aren’t drinking as much alcohol as older generations, and the ones who do prefer wine and spirits.
The Boston Beer Company makes Samuel Adams, and Constellation Brand makes Corona, Ballast Point, and Modelo Especial.
Goldman Sachs now expects the overall beer market in the US to decline by 0.7% in 2017. It downgraded Boston Beer Company from “neutral” to “sell” and Constellation Brands from “buy” to “neutral.”
Wait, it only takes an 0.7 percent decline to announce that BEER IS DEAD, MILLENNIALS KILLED IT?
Also, I know plenty of Millennials who are drinking beer. The real issue here is that they’re not always choosing Corona and Sam Adams.