5 Ways the Beverage Industry Has Been
Impacted By COVID-19
In March 2020, vineyards locked their front doors and restaurants were forced to shutter in-person dining due to the quick spread of COVID-19 and state governors issuing massive stay-at-home orders.
At the time, many hoped the closures would last just a few weeks, and then life would resume as normal. But as the days continued without in-person diners, wine bottle sales at restaurants from plummeted. Vineyards lost revenue from in-person tastings. And champagne bottles and premium wines sat unpurchased in liquor stores.
The pandemic has presented unprecedented challenges to businesses around the globe, including the beverage industry. But it has also presented new opportunities to rethink the way “normal” business is conducted. In this white paper, we’ll examine some of the most significant impacts that COVID-19 has brought to the beverage industry and look at how analytics can help these businesses navigate the challenges.
5 Ways the Beverage Industry Has Been Impacted By COVID-19
The public health risks of the Coronavirus are grave, but COVID-19 is also devastating to the economy. For wine and spirits companies trying to navigate these unprecedented times, turning to data and analytics can provide helpful insights to strengthen their business and make smart decisions to increase revenue.