Business Coronavirus News

How Will The Champagne Industry Survive COVID-19?

Champagne
Source: pixabay.com

Even though the pandemic has not ended yet, the world is slowly moving towards normalcy as government lift restrictions.

Among many of the other things, coronavirus pandemic took a toll over social lives of people. Weddings, dates, nights out and family gatherings have become a thing of the past.

The sale of one thing that goes well with all of these occasions has gone down significantly, this is about champagne.

The global industry that is based out of a sliver of France’s champagne region says that there is one third drop in sales this year. This amounts to an unprecedented loss of 1.7 billion euros.

With grounded planes, halted gatherings and cancelled parties, sales started dropping in spring. It is estimated that by the end of this year, there will be a hundred million unsold champagne bottles, gathering dust in the region’s cellars.

The said drink sales have never dropped this low even during the two World Wars and the Great Depression.

2020 started well, however. we are experiencing a crisis that we evaluate to be even worse than the Great Depression in terms of economy for champagne, and if you look at more recent crises like 1974, the drop in champagne shipments was only half of what we are expecting this year.

Thibaut Le Mailloux, champagne committee, said in an interview.

Producers of the face of drink are now struggling to adapt to changes that coronavirus has brought about. Recognizing the urgency of the situation, the champagne committee on civic is launching measures to limit damages.

During a meeting on the 18th of August, the civic is expected to decide on how many tons of quality grape must be disposed of as waste and champagne producers will not be able to make money off harvest that goes beyond civic’s decided limit.

For more news, click here.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.