The United States spirits market was valued at USD 68,154.8 million in 2020, and it is projected to register a CAGR of 5.02%, during the forecast period of 2021-2026 COVID-19 restricted the movement of the consumer, in turn, affected entire business management systems, from supply chain to e-commerce adoption or expansion witnessed by rising off-premise alcohol sales and brands started using social media platform to keep the consumers connected, thereby COVID-19 has caused a massive influx in the number of active omnichannel off-premise buyers which could be a more opted channel post-COVID-19 too due to the convenience offered by the channel.
April 19, 2021 06:35 ET
Bruce Schreiner
FILE - In this July 7, 2018 file photo whiskeys distilled and bottled in the U.S. are displayed for sale in a grocery store in Beijing. American whiskey absorbed some setbacks but showed resilience in the face of COVID-related clampdowns on bars and restaurants as liquor sales benefited from enduring demand for a good stiff drink. Despite plunging sales from bars and restaurants, the American whiskey sector still rang up increased revenues in 2020. (AP Photo/Mark Schiefelbein, file) January 28, 2021 - 8:32 AM
LOUISVILLE, Ky. - American whiskey absorbed some setbacks but showed resilience in the face of pandemic-related clampdowns on bars and restaurants as liquor sales benefited from enduring demand for a good stiff drink.
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The pandemic performance reflected the industry s durability, the distilled spirits trade group said. We often romanticize the past, but when it comes to American whiskey the golden age is today, said David Ozgo, the council s chief economist.
Industrywide, overall sales and volumes grew for U.S. spirits suppliers, and the spirits industry increased its share of the total beverage alcohol market, the council said.
But restrictions aimed at slowing the spread of COVID-19 took a toll. The spirits industry s on-premise sales from U.S. restaurants and bars collapsed by 44% last year, the council said.
An 18% surge in off-premise sales at liquor stores and other retail outlets helped offset those losses, as consumers increasingly mixed their own drinks while cooped up at home.