Posted: Aug 17, 2020
Research firm Brand Finance assessed the impact of Covid-19 based on the effect the outbreak has had on enterprise value compared to what it was on 1 January 2020.
According to the report, spirits will be moderately affected by the virus, facing a 10% brand value loss. This was based on the level of brand value loss in the first quarter of 2020.
Richard Haigh, managing director of Brand Finance, said: “We are witnessing mixed fortunes across the alcoholic drinks industry as a result of the Covid-19 pandemic. On the one hand, the almost global lockdown and closures of bars and restaurants has resulted in the standstill of on-trade sales.
“Off-trade sales, however, in the supermarkets and bottle shops, have spiked as consumers shift towards consuming alcoholic drinks at home. It is yet to be seen whether this spike can offset the loss and therefore how brands will fare in the coming year.”
By Owen Bellwood
Source and complete article: thespiritsbusiness.com
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