Champagne sales go flat as Americans stop celebrating during coronavirus

Champagne sales go flat as Americans stop celebrating during coronavirus

With absolutely nothing to pop the bubbly over during the coronavirus pandemic, Champagne sales are fizzling out.

The widespread closure of restaurants and bars — not to mention cancelled events such as weddings, bar mitzvahs and sporting occasions — are causing the bottom to fall out of the market.

Despite other types of booze seeing a potentially dangerous amount of popularity during lockdown, global Champagne sales are forecast to fall by a third — the equivalent of 100 million bottles — in 2020, Champagne producers group CIVC told Reuters.

Lost revenue could total more than 1.7 billion euros ($1.9 billion) this year, and the slump shows no sign of reversing.

“When someone loses a job or someone dies in his family, they don’t want to celebrate, so we’ll certainly see that risk hitting us for several years,” CIVC co-chairman Maxime Toubart said.

The estimates are based on a staggering 75 % drop in April and May. CIVC predicted sales would remain below average until the end of the year, the festive holidays making little difference.

Toubart’s co-chairman Jean-Marie Bariellère said the organization hopes the situation will improve when “hotels, cafes and restaurants reopen and people return to a more normal and more optimistic life.”

But, he added, “It’s hard to say how fast that happens. We are preparing for difficult times ahead.”

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