We Know Bars Mark Up Drinks – But How Much?
I love an evening out and enjoying good company over a few cocktails. And I'm pretty sure everyone who consumes alcohol knows that their drinks are marked up a bit when they go out for a drink. But do you know how much your drinks are being marked up?
To over simplify - for about the price of two or three drinks at a bar, you could get completely hammered drinking at home by yourself and save a ton of money in the process.
But how much are the drinks at bars and restaurants getting marked up? Well, according to the Business Insider, they did some checking and gathered a few stats. And it's basically 300 to 400 percent mark up across the board. Just in case you're curious here's how it breaks down.
With beer, you get the most for your money if you order an import in a bottle. Premium bottled beers have an average markup of 300% while other bottled beers are around 400%. For a regular draft beer the mark up is approximately 450% and for premium drafts it's 350%.
Mixed drinks, again you actually get more for your money if you order the good liquor. Drinks with expensive booze are marked up about 300%, compared to drinks with well liquor at around 450%.
If you buy a shot (any shot) - they're marked up about 400%, regardless of the brand.
And with wines, the markup is 350% if you buy it by the glass, 200% if you buy a bottle and 150% if you buy a really good bottle.
We all know its cheaper not to go out drinking in a bar but if you're headed out remember that a good bottle of wine has the smallest markup. And the biggest markups are on the cheap draft beers and mixed drinks.