Despite the current downturn in the U.S. economy, sales of wine and spirits remain strong, BusinessWeek reported Tuesday.
The story noted that sales of other consumer-discretionary products have been hurt by the poor economic conditions, but alcohol sales are proving to be resilient. “Beverage alcohol continues to be pretty recession-resistant,” Richard Hurst, of AC Nielsen, told BusinessWeek.
In May, spirit sales rose by 5.4% on a dollar basis and 3.6% on a volume basis, according to Nielsen.
A recent Nielsen study provides in-depth analysis of current trends in alcoholic beverage purchases.