Retail Sales at Drinking Places Have Surged in Recent Months
During the past several years, the U.S. economy kept growing largely due to resilient consumers, as industrial and construction activity have only recently started to gain upward momentum. Some of the stronger areas have been in consumer experiences, which have benefitted from the dramatic shift to more of a “sharing” economy. Retail establishments specializing in food and beverage consumption have generally posted similar gains during the past few years. However, for the last several months, drinking places have experienced a surge in sales, more than doubling the growth rate of full-service eating places. For beverage companies, this wave may be a tailwind for sustained sales growth, as continued consolidation within the industry could yield more pricing power.