Prices of alcohol past/present

[jlanger]

Just thinking today about Mad Men and how Don always drinks Canadian Club, which today is a "cheaper" drink. I've also seen references in mainly 90's/00 novels about Makers Mark being a very expensive bottle of whiskey.

Did prices of alcohol go down compared to inflation? Was high end alcohol just not as present making supply really expensive? Back in the day Johnny Walker Black was considered very high end, from what I remember as a kid. These day's its mid range at best.

Other thoughts I had was that perhaps, especially in the 50s/60s people drank a lot more thereby making a everyday purchase of even more expensive stuff not really possible. In relation how much did people actually drink back in those days?

Perhaps my upper middle class status has changed my views on what's spendy or not but I was just thinking about this sitting traffic today next to a canadian club liquor truck

 

[Ethan.Bassist.]

Perhaps they were the more expensive liquors because maybe there wasn't the selection we have today. Maybe JWB was considered high end because quality single malts hadn't hit our market yet.

That would be my explanation. Not sure how precise it is, but there you go.

 

[arghblech]

Maker's Mark used to be comparatively more expensive than it is now. It was a super premium in the late 90s. Now it tends to be call or premium depending on where you drink. Good bourbon (and comparable whiskey) are now more expensive due to the "boutique" trends and increased selection at various price points.

 

[The Knize]

Good question. I have no idea.

On the beer side, it seems to me that in the late 60s when I was still in high school, a sixpack of beer that sold $1.25 was considered very inexpensive. Whereas I think Bud was about $2.25 a six. Adjusted for inflation that has to be a lot more money than a six pack costs these days. I sort of recall a fifth of Virginia Gentlemen going for $5.95 or so then. Again, inflation would have it costing way more than it does now, I think.

I think I bought my Dad a fifth of lower end French Cognac in the early 70s for about $19. I am guessing that $19 inflated is way more than 750 ml of Remy Martin goes for today, in say, Washington, DC. Although the VA state stores would be the better test.

Good questions though!

 

[WoodfordReserve-Neat]

Liquor sells very, very well during a Depression/Recession.
A lot of folks that are out of work have nothing to do but, well, drink away their troubles.
Me, I drink during good or bad times...same difference to me. ( Course I know my limitations, a man has to know his limitations...didn't Clint Eastwood say that in a Dirty Harry? )
Don't know if that helps with the question ?
But the Liquor and Medical business is Depression/Recession proof, IMO.
Liquor sales should be booming and for all the wrong reasons...

 

[jlanger]

I know that food in general is quite a bit cheaper than even 50-60 years ago, (inflation adjusted). I'm wondering if the price of foodstuffs/grains helps with keeping the prices low. Also changes in automation, plastic (gasp) bottles, etc. All might account for it I guess.
It's just interesting as in today's world I comparatively spend a lot more for housing and transportation (cars/gas) and less for food/clothing then back then.

 

[stobes21]

...Other thoughts I had was that perhaps, especially in the 50s/60s people drank a lot more thereby making a everyday purchase of even more expensive stuff not really possible. In relation how much did people actually drink back in those days?...

Actually, it might surprise you to learn that total per capita alcohol consumption today is a fair bit higher than it was in the '50s. Link. Of course that is a view of the US as a whole rather than spirits drinkers or the middle class. But still an interesting bit of info.

My guess is that a big part of the apparent change is due to a shift towards the higher end in the market. At your average american liquor store in the 50s I suspect that Canadian Club was one of the best they had available. Better stuff may have existed in the market but would not have had the kind of distribution or advertising to actually occupy space on the shelf.

My understanding is that the Prohibition era dramatically shifted american views towards alcohol as well. This occurred in numerous ways (a larger shift towards public alcohol consumption by both sexes rather than men only taverns and public houses, the rise to prominence of the cocktail, a dramatic decrease in per capita alcohol consumption that took generations to recover, etc.). But of note to people here would be the perception of American drinkers of the relative quality of imported alcohol vs domestic products. At least in terms of spirits prior to prohibition Bourbon, Rye, and other types of domestically produced spirits were the preferred spirit of the middle and upper classes. But a decade of prohibition caused domestic products to become associated more with moonshine as a very low quality spirit and imported canadian and scotch whisky to be considered the good stuff. This perception lasted a long time. And to some extent it may still exist, at least relative to scotch vs bourbon. But it is fair to say that scotch would not be the spirit it is today without prohibition doing wonders for its reputation.

 

[jlanger]

Actually, it might surprise you to learn that total per capita alcohol consumption today is a fair bit higher than it was in the '50s. Link. Of course that is a view of the US as a whole rather than spirits drinkers or the middle class. But still an interesting bit of info.

My guess is that a big part of the apparent change is due to a shift towards the higher end in the market. At your average american liquor store in the 50s I suspect that Canadian Club was one of the best they had available. Better stuff may have existed in the market but would not have had the kind of distribution or advertising to actually occupy space on the shelf.

My understanding is that the Prohibition era dramatically shifted american views towards alcohol as well. This occurred in numerous ways (a larger shift towards public alcohol consumption by both sexes rather than men only taverns and public houses, the rise to prominence of the cocktail, a dramatic decrease in per capita alcohol consumption that took generations to recover, etc.). But of note to people here would be the perception of American drinkers of the relative quality of imported alcohol vs domestic products. At least in terms of spirits prior to prohibition Bourbon, Rye, and other types of domestically produced spirits were the preferred spirit of the middle and upper classes. But a decade of prohibition caused domestic products to become associated more with moonshine as a very low quality spirit and imported canadian and scotch whisky to be considered the good stuff. This perception lasted a long time. And to some extent it may still exist, at least relative to scotch vs bourbon. But it is fair to say that scotch would not be the spirit it is today without prohibition doing wonders for its reputation.

Awesome study Thanks!

Amazing how much more we drank in the 70s! Baby boomers partying perhaps?

 

[fantasticpants]

Maybe I'm getting cheaper, because I haven't noticed Maker's Mark getting less expensive at all over the last 20 years. And don't get me started on the price of rye.

Canadian Club is garbage that people drank because they didn't know any better. Like the way everyone over 70 overcooks pork, salmon, and all vegetables. (Sorry, Mom, it is true!)

 

[n.solo88]

Generally all alcoholic beverages go up in price over time. Champagne in particular goes up a considerable amount per year, 10-20%. And I mean high end champagne, as it is the most expensive alcoholic drink to produce in the world. Certain brands will go down in price, but that is the manufacturers decision. Example: Absolut vodka has been losing a ton of market share over the last few years to brands like Ciroc and Ketel One, so they keep dropping their price to stay relevant.

 

[The Knize]

My sense is that real Champagne and Cognac have managed to maintain relatively high and generally ever increasing prices. Although it is interesting that Costco and Trader Joe's seem to be able to sell their own, or more obscure brands, of real Champagne for fairly low prices.

My impression also is that over the recent decades, Champagne has tended to shoot up in price from time to time, and them hold that higher price, not to smoothly get more expensive. I guess I mostly base that on my impressions when looking at Champagne for New Years eve. It always seems expensive, but some years the price seems to be about what I was expecting, and other years it seems measurably higher than I expected. No very scientific, I know.