While the masses are buying more booze from grocers and liquor stores to drink at home, that hasn’t been enough to fill the gaping hole created by declines in shipments to restaurants, bars and sporting venues that were closed to slow the virus. Global alcohol consumption isn’t expected to return to pre-COVID-19 levels until 2024, and the U.S. recovery will take even longer, according to researcher IWSR said.
This is especially troubling for brands in the U.S., where even before covid-19 a growing number of Americans, led by 20-somethings, increasingly strived to be healthier. They aren’t giving up all the indulgences of older generations, but many want to feel better about doing so. It’s a dynamic that helped turn lower-calorie hard seltzers, like White Claw, into household names and made non-alcoholic beer much more than an option for recovering alcoholics. Read Full Article »
