The effects of the coronavirus crisis on the wine market
Many studies have been done on alcohol consumption during quarantine in several countries. Most of them worryingly show a considerable increase in the average consumption of alcohol. However, what is the effect of quarantine on the wine market? In addition, it is important to note that the quarantine brought a galloping economic crisis, which has created instability in the financial markets but also unemployment and resection.
I believe that in countries that are major wine producers and exporters, such as Italy, Spain and France, there was a considerable negative impact on wine sales in general. This impact can only be measured in full in 2021 when wineries, importers and distributors start to release the numbers for 2020.
In contrast, in Brazil the wine market celebrates an increase of around 25% in total sales during the quarantine which considerably reduces the impact of the crisis for Portuguese wineries. The situation in Brazil is very particular, mainly because the main sales channel is not restaurants, but ecommerce. In addition, importers in Brazil can sell directly to the final consumer without the need for a distributor.
For the future, the world scenario is uncertain given the insecurity of the consumption force of people caused by the increase in unemployment, the closing of small businesses and companies, the decrease of imports by markets such as the USA and China.
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