Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

More drinkers cut than increase alcohol in lockdown, survey says

Published 05/06/2020, 00:17
Updated 05/06/2020, 00:20
© Reuters. FILE PHOTO: Hand sanitizer seen at a Zara shop in Oxford Street, London, Britain

BRUSSELS (Reuters) - People missing out on drinking in restaurants and bars during coronavirus lockdowns are not entirely making up for it by pouring more at home, a survey of nine countries conducted on behalf of beer, wine and spirits companies showed.

The International Alliance for Responsible Drinking (IARD), made up of 12 major alcoholic beverage companies, said its survey of 11,000 people found that 30% were drinking less than before, and 11% were drinking more.

The global numbers were skewed by figures from South Africa, which banned alcohol during the pandemic, and Mexico, which imposed tight restrictions on it. In both those countries most people are drinking less and only a tiny fraction drinking more.

But even in other countries, more people said they had cut back on alcohol than increased it.

In France, 29% of people are drinking less and only 10% drinking more. Similar effects, if less pronounced, were observed in Germany, Japan, Australia, New Zealand and, to a lesser extent, the United States.

Britain was the exception, where the figures were almost the same: 21% drinking less and 19% drinking more, despite the total shutdown of pubs and bars.

When shutdowns began, consumers in many countries stockpiled alcohol along with other goods.

Alcohol sales at U.S. retailers shot up by 54% in the week after the country entered a state of national emergency. They subsided a bit, but still remained higher than before: market research firm Nielsen said the overall sales increase for the 12 weeks to May 23 was 27%.

© Reuters. FILE PHOTO: Hand sanitizer seen at a Zara shop in Oxford Street, London, Britain

The study by the IARD, whose members include brewer Anheuser-Busch InBev (BR:ABI) and sprits specialists Diageo (L:DGE) and Pernod Ricard (PA:PERP), was carried out on May 13-21. Non-drinkers were excluded from the figures.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.