Europe's Economic Crisis Leads to Sharp Drop in Alcohol Spending Among Young Adults

Europe is facing an economic crisis that is severely impacting consumers, especially younger generations like Gen Z and millennials. Their perceived disposable income has dropped by a third.

63-67% of 18-34 year olds across Europe are spending less money on alcohol, both in stores and in restaurants/bars.

Overall, 3 out of 5 European adults have cut back on alcohol spending. The trend was seen even during the holidays.

Research links this alcohol spending drop to budget constraints rather than just cultural lifestyle shifts towards sobriety.

Gen Z and millennials plan to continue reducing alcohol spending over the next 3 months, indicating financial troubles will persist.