It's not just Big Macs. Consumers are ditching Johnnie Walker whisky and Casamigos tequila

Diageo, a major drinks company, has experienced a decline in sales due to reduced consumer spending. The company, known for brands such as Johnnie Walker and Guinness, joins other consumer businesses in reporting sales hits due to inflation and high interest rates. Diageo’s sales fell 1.4% to $20.3 billion over the past year, with particular weakness seen in Latin America and the Caribbean. Sales of Johnnie Walker and Casamigos tequila also declined. Despite these challenges, Diageo remains optimistic about the future of the alcohol industry.