Millennials are once again proving they are the new beer snobs after a survey revealed the young generation spends $60 a month on craft beer. That’s more than the average cost of a cell phone bill.
According to the survey, millennial drinkers are dishing out $5 more on beer than any other American drinker. More than half (56%) of millennials said they drank an ice cold craft brew at least once a week. And it’s the men who are being the big spenders when it comes to craft beer. Spending $66 a month on the alcoholic beverage compared to women who are willing to spend $50 per month.
What’s the craft beer of choice? Most millennials, who now range in age from 23 to 38, say hoppy IPAs are their preferred beer. Other types include American Pale Ale, Brown Ale and Porter. Craft beer has recently seen an uptick in sales accounting for approximately 3% of U.S. yearly sales thanks to snobbish drinkers.
From 2007 to 2018, craft breweries have grown from 1,511 to over 7,000. This is bad news for brands like Budweiser and Miller Light who have seen a decrease in sales of approximately $12.6 billion but have still been able to dominate the beer market.
See more about millennials beer spending habits in the video above.