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Reply Your favorite restaurant may have deals on margaritas, tacos, and more items. (Shutterstock) PLEASANT HILL, CA Cinco de Mayo, observed on May 5 every year, has turned into a major American celebration of Mexican heritage, but its growing popularity in recent decades has centered on something completely unrelated to the holiday s original designation. Alcohol. Hundreds of millions of dollars are spent on beer and other alcoholic beverages for the Cinco de Mayo holiday every year, peaking in 2018 when the holiday fell on a Saturday and coupled with the Kentucky Derby. Subscribe Tequila remains the preferred Cinco de Mayo alcoholic drink, with 126 liters of the drink consumed leading up to the date. ....