- Coronavirus has an unlikely target-the famous Corona Beer brand apart from economically impacting trade, tourism, and aviation among other global sectors.
Novel coronavirus has an unlikely target-a famous global beer brand-apart from economically impacting trade, tourism, and aviation among other global sectors.
Corona Beer has become the focus of memes and videos shared on social media as the toll from the virus is climbing worldwide, according to a survey by Bloomberg.
Leaks of a spike in online searches for “corona beer virus” and “beer coronavirus” suggest the association could not avoid the Mexican beer, the study said.
According to data from YouGov Plc, the so-called buying intent among adults in the US has plunged to the lowest in two years, as reported in the Bloomberg report.
“In recent days, as infections spread, the damage has become more severe. Corona-maker shares of Constellation Brands Inc. dived 8 percent this week in New York,” the Bloomberg study said.
“Corona’s buzz score— which measures whether brand-conscious American adults have learned positive or negative things about it— has tumbled to 51 from a high of 75 at the start of the year,” YouGov said.
According to the study, according to YouGov rankings, Corona, which derives its name from the Sun’s corona and has nothing to do with the virus, is the third-most-popular beer in the US. It is Guinness first, and Heineken second.
“The image of Corona as a summer beverage synonymous with beach holidays could be another reason for the drop in buying intent,” YouGov business data journalist Graeme Bruce wrote in an article published Wednesday. “So, it has major seasonal fluctuations,” he said.
Today, China’s cumulative coronavirus toll has risen to 2,744 with 78,497 confirmed cases. However, on Thursday a Chinese health expert said the coronavirus outbreak in the country would be “basically under control” by the end of April.
Other Effects Of Corona Virus
Falling oil demand
China is the largest oil importer in the world. The International Energy Agency (IEA) has forecast the first decrease in global oil demand in a decade, with coronavirus reaching manufacturing and travel.
“The global demand for oil has been hit hard by the novel coronavirus (COVID-19) and the widespread shutdown of China’s economy. Demand is now expected to fall by 435,000 barrels annually in the first quarter of 2020, the first quarterly contraction in more than 10 years,” the IEA said in its latest monthly report.
The shortage of Chinese products and parts affects industries around the globe, as factories postponed opening after the Lunar New Year and employees stayed home to help mitigate the virus spread. Apple’s Chinese manufacturing partner, Foxconn, faces a pause in production. Some carmakers, including Nissan and Hyundai, temporarily shut down factories outside China because they were unable to procure components.
The pharmaceutical industry is also expected to disrupt global production.
Many trade fairs and sporting events have been canceled or postponed in China and across Asia.
We hope that coronavirus is contained and the economy restores to normal.
