The story of Boston Beer Company’s Truly Hard Seltzer brand remains the same; the company can’t keep up with demand for the hard seltzer category’s second largest brand. The mid-March pantry stock up caused by the novel coronavirus shutting down virtually all on-premise sales led to a spike in Truly sales earlier than expected.
COVID-19 is forcing brewery owners across the country to make hard decisions. Surly Brewing founder Omar Ansari has made his share of those decisions over the last month after shuttering his beer hall, pizza place and event space in mid-March. Couple those closures with the shutdown of on-premise sales, and around 60% of Surly’s revenue evaporated overnight.
German officials today cancelled the country’s famed Oktoberfest celebration due to concerns about the COVID-19 pandemic. The California Craft Brewers Association — a nonprofit trade group that represents the interests of the state’s craft brewers — announced today the cancellation of its “Craft Beer Summit,” which was scheduled for September 9-12 in Long Beach.
A pair of recent surveys of craft brewery owners in South Carolina and California have revealed the financial pressures the novel coronavirus disease COVID-19 have placed on small beer companies. A survey released by the South Carolina Brewers Guild on April 14 showed that 80% of the state’s breweries may be forced to close within the next three months if the current shutdown of on-premise and at-the-brewery sales remain in place.
Drizly, the on-demand e-commerce marketplace for alcoholic beverages, has seen record numbers of both new customers and sales since the COVID-19 pandemic began forcing millions of Americans to stay home in mid-March.
After being shut out of receiving loans from the coronavirus relief bill’s Paycheck Protection Program, small business owners have filed class action lawsuits against some of the country’s biggest banks, alleging unfair business practices and fraud.
More than 1,900 fewer beer category (beer/FMB/cider) products — a majority of which were made by independent and longtail craft producers — were sold in off-premise retailers during the first six weeks of the COVID-19 crisis compared to the same period in 2019, according to market research firm Nielsen.
Barry Holmes, CEO of The Bruery and Offshoot Beer Co., offers tips to breweries considering getting into direct-to-consumer or membership club business and shares how The Bruery is engaging its members via weekly, virtual happy hours on Thursday nights. He also discusses how adding a line of canned hazy IPAs and a pilsner through the Offshoot brand has helped fortify The Bruery’s business, which was originally built on barrel-aged and sour offerings.
Just two weeks after it began accepting applications, the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) ran out of funds on Thursday, April 16.
As the craft beer industry navigates the complexities the COVID-19 pandemic has wrought on the on-premise channel, Brewbound is gathering leaders to discuss how brewers nationwide are approaching the circumstances. Join us this Thursday, April 16 at 3 p.m. ET for a live streamed virtual panel discussion with leaders from breweries in states where social distancing measures have not yet been put in place by state order.
Stonehearth Capital Management senior financial advisor Andrew Nadeau joined Brewbound reporter Jessica Infante for a conversation about the U.S. Small Business Administration’s (SBA) options for business owners.
Anheuser-Busch InBev today announced several measures in response to the COVID-19 pandemic, including a $1 million donation to the U.S. Bartender Emergency Assistance Program and a 50% reimbursement for untapped, out-of-code beer through July 1.
Contrary to previous reports, some businesses with backing from private equity or venture capital firms are eligible for loans under the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP).
With summer drinking occasions at risk of being lost due to the coronavirus disease COVID-19 shutting down gatherings at beaches and pools, consumer insights firm Social Standards looked at the potential effects of that loss on beverage alcohol products.
