05/13/2015
Fine-Dining Establishments Taking The Biggest Hit:
Per TIME business article below.
http://content.time.com/time/business/article/0,8599,2008139,00.html
"We used to say that [alcohol consumption] was recession-proof or at least recession-resilient, but the rules have changed in this recession," says David Henkes, a vice president at Technomic, a research and consulting firm.
[US - Could go into recession in 2015: Expert http://www.cnbc.com/id/102496659]
Traffic to restaurants has plunged, with fine-dining establishments taking the biggest hit as businesses pull back on entertaining clients and consumers keep a tighter grip on their pocketbooks.
Sales of alcoholic beverages at bars and restaurants fell 4.6% in 2009, while sales at liquor stores, supermarkets and other retailers for "at home" drinking rose 1.2%, the report said. Americans are gulping 10 drinks on average each month at home, compared with only 5.7 drinks in bars and restaurants, the report notes.
Certain drugstore chains and cash-strapped state governments are trying to cash in on the trend. In the past year, Walgreens has started stocking its shelves with beer and wine, reversing a 15-year ban on alcohol sales.
*And in New York, Governor David Paterson is pushing for legislation that would end a 20-year fight to allow grocery stores to sell wine — a move that would generate about $300 million in licensing fees alone. "The governor is one of the big champions of this because they're turning over every rock they can find for revenue right now," says Dan Hendrick, communications director for the New York League of Conservation Voters, an environmental group lobbying for the change as a way to raise revenue. About 35 other states already allow this.
Dear N.B.I.B. Group
How will this affect the restaurants and “beer gardens” being promised to Bellevue to create a “more vibrant” business district if this trend continues--especially, if alcohol sales are opened to drug and grocery stores?
It would seem if the referendum passes, Bellevue will be left holding the bag…Being dry and BYOB seems more prudent considering the predicted recession at the end of 2015. Remember to vote NO on May 19th.
