Corona beer memes: Corona beer had a 21 percent growth in revenue outside of its home market of Mexico in 2019 year-on-year, with major contributions from China and South Africa, the brand’s owner ABInBev reported on Thursday.
Despite the brand has seen growth in international markets, in the US, where Constellation Brands, Inc. distributes the beer, a recent research by YouGov, a British-based international internet based research firm, found out that consumer sentiment to the beer had dramaticly decreased by nearly 1/3. Constellation Brands, Inc. stock has traded down 8 percent this week as sentiment dropped and investors worry what the coronavirus link could mean for the bussiness.
The coronavirus has not been positive for businesses. Although Corona beer saw an uptick in sales, ABInBev reported that its first quarter earnings would drop about 10 percent following a profit growth in 2019 as costs increase and the coronavirus dampens demand.
The coronavirus has currently infected over 80,000 people with over 2,800 deaths, most of them in China. In the Middle East, Iran has become the deadliest epicenter for the disease outside of China, reporting the most number of deaths after the Asian giant.
Given that China and the globe are coming to grips with steps to quit the spread of the coronavirus. And also news channels all over the world are pounding the public with messages of the coming armageddon. We believe that there is way too much negative thoughts all round already, so it’s time we transform the narrative a little a bit.
Right, now please sit back, kick back as well as crack open a beer (corona ? preferably, yes…) and appreciate some light entertainment at the cost of our preferred beer worldwide.