Updated: Aug 28
As mass-hysteria continues to unfold around COVID-19 and many worry about their personal safety and the health of their loved ones, it poses another crucial question, what will the impact be for the Corona beer brand?
From where you'd rather be? Many see Corona beer as one of the worst afflicted in this global pandemic. With questionable stats like the famed "38% of Americans say they would not buy Corona beer under any circumstance" it is no shock that Corona beer sales have decreased. But to hear they have suffered a $455 million revenue loss seems extreme.
Controversially, some marketers say that in the long run this will improve Corona sales. The argument goes that whilst sales might be down across the category in places like China where public socialising is down, the Corona name having salience is actually a positive for the brand. The attention on Corona does not come from a core deficit or a contradiction to the brand image, but the brand name is top of mind. For a purchase decision that often takes a couple of seconds, this could be a very useful shortcut for potential buyers at the moment of sale, but only time, and revenue, will tell.