In their weekly podcast, Euromonitor International discusses the impact of the corona virus. In their latest podcast they talk about the effects on industries, economies and consumers.
Listen to the podcast episode here.
COVID-19 is having quite an impact on the packaged food and soft drinks industries. Like many other consumer goods, there has been a huge spike in demand for both staple soft drinks and packaged food.
Manufacturers are extending their supply chains as much as they can in an attempt to keep up with customer demand. Soft drink companies, in particular, have benefited from the direct store delivery model that some bottlers employ, allowing them to get to the store on their own trucks and avoid the use of external logistics.
One of the biggest changes to come from the COVID-19 outbreak is that more consumers are using online grocery platforms to buy food, and many may stick with it even when the crisis is over. This includes going to a store to pick up food or having them delivered to their doorstep.
No one really knows how the crisis will affect foodservice chains. The soft drinks industry, in particular, is losing a lot of revenue as consumers eat more meals inside and stick to non-perishable goods.