Corona Beer Set to Take a $285 Million Hit Due to Coronavirus

Lime isn't going to make this any better Corona.

The world’s biggest beer brewing company Brewer Anheuser-Busch InBev (AB InBev) expects to lose an estimated US$285 million thanks to the Coronavirus (Covid-19) sharing the same name as its popular Mexican beer.

Now spreading globally, more than 82,000 people have been infected with Covid-19, with roughly 2,800 have been killed by the virus.

Following the financial results for the fourth quarter and full-year, shares for the company also took an 8% hit, with CEO Carlos Brito expressing dissatisfaction.

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Corona has reportedly been decimated by the pandemic in China, leading to a “significant decline in demand in on-premise channels (night-life and restaurants)” with most venues having reduced opening hours or have outright closed up shop.

Half of all China breweries, aside from Wuhan, have been re-opened by AB InBev, with licenses obtained to re-open remaining sites.

However, this may not be the end of the company’s hardships as an online ad garners a not so positive response.

https://twitter.com/coronaextrausa/status/1232092472710320128?s=20

Coming with the tagline “coming ashore soon”, a nod to the Coronavirus pandemic, many labelled the ad inappropriate, with one user describing it as exploitation.

“Shame on you for exploiting a real global health crisis. Next time we buy beer, it will NOT be Corona.”

InBev is sticking to their guns; however, claiming the ad is “consistent with the campaign we have been running for the last 30 years and is based off strong consumer sentiment.”

“While we empathise with those who have been impacted by this virus and continue to monitor the situation, our consumers, by and large, understand there’s no linkage between the virus and our business,” said Constellation Brands spokesperson Maggie Bowman.

And we’re inclined to agree with InBev.news

Just like AYDS weight loss pills back during the AIDS crisis, or the mobile wallet service Isis, Corona may have to ride the waves of scrutiny as its name fights off the infection.

Unfortunately, a recent YouGov poll has revealed Corona’s ‘Buzz’ score has fallen from a high of 75, all the way down to 51. However, YouGov journalist Graeme Bruce suggests it may have to do with the beer being considered a “summer-y beverage.”

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