COVID-19 Spirits Market Overview
Identify articles describing the spirits (and/or luxury) market during the COVID-19 pandemic to inform a business pitch.
Spirits Market During COVID-19 Media References
- Nielsen posted an in-depth article ("Rebalancing the 'COVID-19 Effect' on Alcohol Sales") in May on the impact of the COVID-19 pandemic on the liquor market, including what factors were influencing the market previously (such as online sales) and what rate of growth will be necessary for the industry to recover.
- A June article from Food Politics ("The effects of Covid-19 on the alcohol industry") describes two articles related to the subject (including the provided article from Fortune); this article also includes academic commentary on how the actual rate of consumer consumption is difficult to calculate at present.
- A March article from CSP ("Demand for Alcohol Strong Amid COVID-19 Outbreak") includes commentary from experts in attendance during the COVID-19 Virtual Conference Series. It includes rates of increase on alcohol delivery platforms and factors to keep in mind when considering the timeline of recovery.
- The Canadian Centre on Substance Use and Addiction compiled a report in April following a survey of its residents to identify how much of an increase has been seen in at-home consumption among Canadians. The demographics that have increased their consumption are included in this report.
Summary of Early Findings in Relation to Goals
The first hour of research involved outlining the project to determine if the requested information is available. The research team was able to identify three separate media-originating articles that discuss different elements of the COVID-19 impact on the alcohol industry and can continue with this research if desired. Based on academic commentary that industry-based sources are not always reliable, a report originating from a governmental body was included in the initial findings (and these can be included in further research if requested).
Additionally, we can research numerical data points related to the current state and future projections of the spirits market, along with insights into what types of spirits are anticipated to grow in popularity.
Based on our early findings, we recommend the following next steps:
Proposed next steps:
You need to be the project owner to select a next step.