Bars and restaurants in the U.S. have, for the most part, reopened as more Americans receive the COVID-19 vaccine. Six months into 2021, how is the recovery of the on-premise channel shaping up?
CGA’s Matthew Crompton and Andrew Hummel share their firm’s findings during the latest edition of Data Club. After more than 110,000 eating and drinking establishments closed in 2020, demand is outstripping supply, Crompton said.
“Yes, the market is smaller now. There’s no doubt about it, but what we do know from our sales data is that velocity is really, really flying,” he added. “What we see is a huge increase in velocity, and by velocity, I mean rate of sale.”
Crompton and Hummel discuss the on-premise penetration of hard seltzer and ready-to-drink canned cocktails in on-premise venues, the increase in check size, the importance of physical menus and much more.
Watch the video above for more insights from Crompton and Hummel, and look for new episodes of Data Club each month, exclusively available to Brewbound.com subscribers.
If you are a beer industry analyst, data scientist or economist interested in being a future Data Club presenter, please contact Brewbound editor Justin Kendall at news@brewbound.com.