I have the same thoughts as with tobacco. Surveys clearly show that less and less alcohol is being consumed from generation to generation. You can also see that more and more people are slowly learning about the problems of alcohol. So if consumers are on the wane, the company has a problem. The other conclusion is that you have to make the products expensive for the remaining consumers in order to grow. If you look at the brands, only some of them are high-flyers. To summarize, things can get better again, but over a 10-year period, business is simply difficult. Reminiscent of BAT or PM.
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@cashwithhead Great breakdown with some solid perspective 👏🏽
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