Part 6/8:
With the nightlife economy crippled, venues that thrived on extravagant spending are trying diverse approaches just to remain afloat. Innovative concepts such as thematic bars offering fortune-telling alongside cocktails are emerging amid the struggling landscape. However, the question remains—will these gimmicks resonate with a population that is increasingly cautious about how they spend their limited resources?
Industry observers are generally pessimistic about the immediate future, forecasting continued declines in the beer market, particularly for high-end options. Budweiser, once synonymous with luxury, has now announced plans to downgrade the quality of its offerings in an attempt to capture the middle market, marking a drastic departure from its former prestige.