Staggering decline in On Premise sales in March.
Will this epidemic topple the domestic wine trade?
With exports a small and shrinking portion of consumption and many restaurants ordered closed through June, how much damage will ensue.
Wine America has surveyed 10% of US wineries on estimated losses sustained by March 19th and projected for the full month
Layoffs of 25% of staff
- Normal Employment: 11,043
- March Layoffs: 4,496
- Normal Annual Visitors: 26,096,279
- Events Canceled: 4,582
- Unanticipated Expenses: $840,487
- Total Sample 1085 wineries (10% of US wineries)
- Total Financial Loss in March due to Coronavirus: $40,439,764
With public gatherings worldwide being canceled at a rapid pace including Formula 1 and NCAA Basketball Tournament, UGCB has become the latest cancellation
With Japan, Italy and Germany on the brink of recession, HK already in one, China and US economies slowing, what’s next?
Tourism, Supply Chains and HORECA sectors are being hit hard.
Reach out to your Legislative Representatives today to encourage them to protect Jobs in the industry, especially with SMEs who are most vulnerable to the effects, protect consumer choice and avoid drastically higher prices for consumers.
From one of the pioneering biodynamic families, always a treat.
Time to celebrate cheaper wine!
Experts say lower prices will last up to three years before producers can rebalance their crops.
We say, Party On!