NPR on booze spending: bars “lagging in productivity growth”

 

Over time, booze spending has increased about 80% at bars and restaurants and decreased about 40% at stores…

This isn’t particularly surprising. Over time, you expect productivity gains and falling prices in manufactured goods. But a bartender today can’t make drinks any faster than a bartender 30 years ago. In other words, there haven’t been major productivity gains at bars. When a sector lags in productivity growth, it tends to have increasing prices.

Will be interesting to see what bars and restaurants look like in ten years…more table taps?

Charts here >> NPR.

 

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