Alcoholic Drinks Will Suffer but Survive In Light of Coronavirus
Although alcoholic drinks sales recorded a slight, short term uptick due to stockpiling before worldwide lockdowns, the industry will lose a massive number of sales due to the closing of bars and restaurants along with the cancellation of a number of sports leagues, concerts and festivals.
As the global economy continues to spiral, premium and craft drinks will suffer as consumers trade either down or across in their purchases. However, it’s important to remember that alcoholic drinks is a resilient industry that has survived world wars, economic downturns and prohibition. The future may look different for the industry but by no means is this the end.