Ride Sharing Could Funnel $98 Billion into the Booze Market
"No more for me - I'm driving home" is already starting to be a thing of the past. With the rise of ride-sharing apps, driving home is becoming less and less necessary. What does that have to do with alcohol sales? Well, if the thing keeping you from drinking was that you knew you'd have to operate a two ton vehicle with the power to kill you or someone else, that's not really an issue when there's a driver four minutes away. So basically, you not driving home is a dream come true for the alcohol industry.
Take it from Morgan Stanley. The financial giant thinks that over the next ten years, the alcohol market could grow at rate nearly twice as fast as it has been growing. They're basing this on the assumption that the people who fall into both the "drinker" and the "driver" category will be having one more drink per week. And that's assuming people are just having one more drink per week by the year 2025. They point out that, in places where ride sharing is really killing in popularity and availability, it's probably going to be more than one additional drink per week.
When you add up all the growth, it amounts to about a $98 billion dollar increase in the global alcohol market. That's a lot of booze. And these estimates just go up to 2025. From there, Morgan Stanley figures, it could go even higher. Maybe ride sharing isn't your thing. Whether the surge pricing is too annoying or you're just not a fan of strangers. You may still be buying more drinks soon. After all, things are looking pretty good for the future of driverless cars, and you can't have a drunk driver if you don't have a driver.
[h/t Business Insider]