How will the Coronavirus will affect the drinks industry
How will the Coronavirus will affect the drink industry ?
Believe it or not the drinks industry is one of the hardest hit by the coronavirus (Covid-19), with China accounting for some 35% of global luxury goods sales. db analyses the impact of the outbreak.
China is now closed to foreign travel and Mr Alexandre Ricard, Pernod Ricard’s CEO said:
“Night clubs and night bars are all closed in China and those bars and restaurants that are not closed are empty.”
Even travel agencies said that bookings have collapsed massively in the last two months since the Coronavirus.
China is one of the UK’s seventh largest trading partner outside the EU, and food-and-drink exports to it for the year to date are up by £64.6m year on year, the largest value increase in more than 20 years.
Food-and-drink exports to the country have more than doubled in the last five years, up from under £260m in 2013 to over £620m in 2018.
Imagine the changes in loss this year.
Before the Coronavirus outbreak, people in the UK were thinking and planning their parties as usual. So far our cocktail making classes or mobile bars for hire haven’t felt a huge hit although we have a sense that sooner or later if nothing happens we believe that the drinks industry will be under huge pressure.
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With the the famous liquor Remy Cointreau has give up any profits forecast at all after the unrest in Hong Kong and the slowing Chinese growth rate decimated sales in its key Far Eastern markets.
In Australia, the Treasury Wine Estates is also facing an almost perfect storm with China being the main export market as well as USA where the profits have suffer a 17% lost.
In Honk Kong the protests had already moved some of Moet Hennessy’s reducing their orders to a minimum.
When this coronavirus will end or at least be under control ? I believe as of yet nobody knows.
So far our mobile bar hire company hasn’t suffered a massive hit, perhaps this means is still in the early days.
We still take bookings for our regular and new clients. Coronavirus hasn’t stopped us trading or delivering a memorable cocktail experience.
So if you’re planning a cocktail party or want to add that special touch to your party then you should consider hiring a mobile bar for your event.
Visit our website www.hireaprivatebartender.co.uk or drop us an email at email@example.com
We look forward hearing from you.