The Brewers Association recently released their small and craft brewing economic impact report for 2018.
The study found that the craft brewing industry contributed $79.1 Billion to the U.S. Economy in 2018 and provided directly and indirectly about 550,000 jobs.
These numbers are based on what are called economic multipliers, which are used to measure both the direct and indirect impact of economic activity.
For example, the employment multiplier for auto factory workers is about 7. This means for every auto factory job gained or lost, 7 other jobs are gained or lost. These occur in suppliers to the plant as well as places where auto workers spend their money.
As the chart below shows (click to enlarge), the number of actual jobs at breweries has grown quite rapidly, to 77,902 in 2018 from just 24,864 in 2010.
This means brewing was one of the fastest-growing sources of employment during that time.
We've long used craft brewing as an example of the rise of niche businesses. We even featured the industry in a 2008 research report, The New Artisan Economy, which we did with Intuit.
And the three broad trends we laid out in the New Artisan Economy report as driving the growth of niche businesses continue to do so:
1. Growing numbers of customers are looking for unique, unusual, personalized or locally produced products.
2. The Internet and online marketing have made it much easier to find or be found by people interested in buying niche products.
3. Technology is lowering the costs of serving niche markets and making artisans able to compete with even the largest of firms.
from Small Business Labs https://ift.tt/2mctgsr
via https://ifttt.com/ IFTTT
No comments:
Post a Comment