The unprecedented affects of the Coronavirus are affecting all industries and the wine market is no exception. With restaurants and hotels closed, families restricted due to the lockdown and strict boarder restrictions, the wine industry has been hit hard. There are 2 main issues that are affecting the industry:
- An increase in stock
- Due to not being able to export wine
- A drop in sales to key distribution channels
- Due to restaurants and hotels being closed
The problems due to restricted boarders mean that it is almost impossible to export wine from one country to another. Due to this, the increase in wine left unsold and in barrels is becoming a real problem for vineyards around the world. On top of that, another issue is the drop in sales to key distribution channels, such as restaurants and hotels. With everyone on strict lockdown and families unable to reunite over a hearty meal accompanied by their favourite glass or bottle of wine; wine producers are feeling the wrath of the corona virus impact. In addition, the new export taxes to USA don’t help the consumer to find wine.
However, with all this in mind, they do say that every cloud has a silver lining, and this is true because some company like Planet Provence can ship the wine directly to your home.
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