Drinkers are still looking for deals
Craft beers and other liquor for sale at a liquor store in Chicago.
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Bill Radke: Right around happy hour time in Washington today, the Wine and Spirits Wholesalers of America will take the stage at the National Press Club. Industry leaders will let us know how the hooch industry is doing. Marketplace's Jeremy Hobson has more.
Jeremy Hobson: Craig Wolf is president of the Wine and Spirits Wholesalers of America. He says the economy may be recovering, but drinkers are still looking for deals.
Craig Wolf: The days of the, you know, $20 to $60 to $100 bottle of wine are fading very quickly.
He says hard alcohol is avoiding the trend somewhat because there's more brand loyalty with liquor. The other trade-down is a move toward buying alcohol in stores instead of buying it at restaurants and bars. Which is not to say that bars are emptying out.
I stopped into a Manhattan pub called Mustang Sally's. Manager Mike Kelly told me for his customers, it's all about the cheap drink specials these days.
Mike Kelly: For the ladies, we like to do a $5 cosmo, and for the gentlemen we do a $4 Jameson's just in case you need to get the edge off after your day's work, and we've noticed a great afterwork trend and buzz in the place.
Hobson: So you'll drink to that?
Kelly: I will drink to that, Jeremy, thank you.
In New York, I'm Jeremy Hobson for Marketplace.