The owner of a Michigan "beer exchange," where the prices of the brews move up and down based on demand like stock prices, says he's planning a second location in Detroit.
The Kalamazoo Beer Exchange opened in 2010 and features beer prices that change by the minute, with pricing listed on a big ticker board above the bar. The bar also has occasional "market crashes," in which the beer prices drop to their lowest point and stay there for 5 minutes.
Owner James Flora told Crain's Detroit Business that he'll open a location in downtown Detroit in the redeveloped historic Stevens Building.
Flora hasn't said when the new location will open.
“Up-to-the-minute popularity determines pricing for each brew and in the most exciting moments, a market crash plunges prices lower than you ever thought possible!" according to the Kalamazoo Beer Exchange website. The bar also serves food.
It will be the second stock market-themed beer bar in the Detroit area.
The Dow opened in 2017 in suburban Birmingham and also features beer prices that change every 15 minutes.
The beer "markets" also add to a growing interest in market-based pricing in buying and selling of consumer goods in Detroit, which is also home to StockX, which bills itself as the first online consumer “stock market of things.”
StockX, which launched in downtown Detroit three years ago, is an online site that matches up buyers and sellers of sneakers and various luxury items like handbags and watches, with the price changing based on supply and demand and the company authenticating merchandise to prevent sales of fakes.
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