BEVCOMMUNITY

Connect with the local beverage industry. Trade news, trends and insights.

Wine Trade Group Reports on Early Industry Coronavirus Losses

By April 26, 2020Top News

WineAmerica, a Washington D.C.-based trade group, reported about 10% of U.S. wineries had collectively lost about $40.4 million by March 26, as a result of the coronavirus pandemic. The survey of about 1,100 wineries also found 4,496 layoffs out of 11,043 employees as its normal employment baseline. The wineries also canceled 4,582 events and incurred approximately $840,487 in “unanticipated expenses.” In a full year, the average winery welcomes 24,111 visitors, with 5,500 the median. The average winery expected a 75% decrease in visitors in March, and the median an 80% decrease, compared with previous years or 2020 projections. The average winery canceled four special events, and the median three, in March due to the crisis. Assuming the respondents were representative of the entire industry, multiplying everything by 10 comes to a total loss of more than $400 million in March, reported Jim Trezise, President, WineAmerica. About 85% of U.S. wine comes from California. The average respondent anticipated a 63% decrease in sales during March.

 

 

 

 

 

« | »