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, premiumisation and craft in alcoholic 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 which has survived world wars, economic downturns and prohibition. The future may look different for the industry but by no means is this the end for alcoholic drinks.Lots of brands claim to be number one… but can they prove it?At Euromonitor International, we help brands build trust through evidence-based research. Our claim validation service ensures your marketing messages are backed by real data. Stand out in a crowded market. Visit euromonitor.com/claims to learn more.