Corona beer reportedly didn’t see any negative impact in sales in 2020 compared to prior years, despite fears early in the year it suffer due to its name’s relevance to the on-going pandemic.
The beer‘s parent company, Constellation Brands, were reportedly worried about how to market the brand with the “added layer and the pressure that this virus was using the name ‘corona,'” John Alvarado, senior vice president for brand marketing of the parent company shared with Wall Street Journal in a recent report. (RELATED: David Hookstead Is The True King In The North When It Comes To College Football)
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But those fears appear to have been unwarranted with sales of the Corona-branded beer through early December coming in consistent with the beer’s sales at the same time in 2019, according to market research firm IRI. (RELATED: Virginia Brewery Offers $20K A Year For Gig Hiking And Drinking Beer)
“There wasn’t really any kind of negative impact on Corona sales,” Vivien Azer, managing director and senior research analyst at investment bank, Cowen Inc., shared with the outlet. “That’s clear in the data.” (RELATED: Beer Brewed To ‘Celebrate’ All Things ‘Progressive’ Taken Off Shelf Over Racist Look)
According to the report:
In-store spending on Corona-branded beer and hard seltzer in the U.S. comprised 6.78% of the category this year through Dec. 6, essentially unchanged from the equivalent period a year prior, according to IRI, a Chicago-based market research firm.
“During the early days of the lockdown, consumers gravitated toward large, trusted brands,” Azer said of the beer. “If you’re only going to the store once or twice a week, are you going to load up on a craft beer you’ve never tried before or are you going to get a beer you know?”