The boss of Australia’s third-largest beer group, Coopers Brewery, says beer is losing its recession-proof status as drinkers struggle to swallow the high cost of the beverage in a tough economy.
Michael Shearer, the managing director of the family-owned beer group that has a national market share of 6 per cent, said relentless government excise increases on packaged beer and cost-of-living pressures meant customers were becoming more hesitant, with a carton of beer now regularly costing more than $65.
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