The Virginia Alcoholic Beverage Control authority, or ABC, announced its 20th consecutive record-breaking year for sales.
According to an ABC report, fiscal year 2018 gross sales topped approximately $983 million — up $43 million, from the previous year. Retail sales grew 4.5 percent and sales to restaurants climbed 4 percent.
ABC attributes the win, in part to opening five new stores this year. Looking at the numbers, it makes sense, ABC opted to open up five new stores.
Though numbers for 2018 are not yet available — data for the past two decades shows that Virginia’s total population and median household income have risen in line with alcohol sales. In 2017, Virginia’s population rose by about .08 percent and median household income rose by about 2.8 percent.
Virginians are not alone. Overall, Americans are spending more money on alcohol. According to the Bureau of Labor’s consumer expenditure survey, American’s alcohol expenditure has risen 56.6 percent since 1996.