The beer, wine and spirits industry has suffered its worst month in history as a result of the Chinese Communist Party (CCP) virus, commonly known as the novel coronavirus pandemic, with a loss of $8.5 (US $5.5) billion in revenue in April.
The shutdown of pubs, clubs and bars to spare Australias from the worst of the deadly virus also cost the industry almost half a million in hospitality jobs, Alcohol Beverages Australia says.
“Despite some initial pantry filling in March, April has been the worst month on record for sales of beer, wine and spirit,” its chief executive officer Andrew Wilsmore said in a statement on May 24.
“The biggest category, beer saw a 44 percent drop in April and cider saw the biggest decline at 61 percent due to the loss of social occasions.”
Small and medium-sized wine produces who rely on restaurants as their main route to market also reported losses of up to 70 percent.
Meanwhile, local distillers witnessed revenue declines of up to 80 percent, with the shut down of regional tourism adding to the tale of woe.
“We knew that the total loss of trade from pubs, bars, clubs and restaurants was never going to be made up for by aRead More – Source