I'd like to share this article of interest. It's a short, 3 minute read and here are the main points from it.
Typically in recessions, consumers tighten up by buying less quality or sub-premium beer.
Sub-premium beer is sold in bulk which is convenient during these COVID times, but cheap beer is losing market share.
Beer sales in stores are surging by the shutdown of bars, restaurants, clubs, and sporting venues.
Craft and imported beer sales have unexpectedly increased. This is due to the "premiumization" effect. This includes hard seltzer drinks too.
People who tend to buy "premium" beer work in industries least affected by recessions and can continue working through one, specifically remotely.
Craft breweries are getting hit the hardest since 40% of their sales are dependent on keg sales in restaurants compared to only 10% of the large, well known breweries which get a majority of their sales from store purchases.
If you'd like to read more, access the full article here: