Alcohol consumption increased during COVID, as more were stuck at home or unable to significantly travel. Very few could go overseas, and Melbourne had the longest lockdown of any city in the world.
Perhaps a difference in 2024 is that among the 'working poor', mortgage repayment or rent have increased faster than CPI, so there is less money to spend on discretionary items.
However broadly, I agree that in such times, more "should" be turning to booze as a social lubricant and suppos-ed fix to individuals' problems.
Promotion of stupid 'Dry July' doesn't help any alcohol retailers such as Dan's or BWS, or EDV's hotels.
Ann: S&P DJI Announces June 2024 Quarterly Rebalance, page-5
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