During April 2020, Brand Reveal ran the "Day After" survey to understand the impact of the C19 crisis on alcohol beverages Marketing Mix. A total of 79 respondents participated, reflecting the views of senior and commercial positions in wine and spirits, in Europe and the US. This first article (out of 6) highlights the findings on Future Prospects. The key message here is: Confidence and Transformation.
There is an overall confidence expressed as more than 70% believe the crisis does not threaten the existence of their brand. This is a good sign, especially when we know how the On Trade sector - so important for alcohol beverages - was hit. A sign of optimism is also expressed as 2/3 of respondents believe their brand is well positioned to keep growing after the crisis. However, not everything is rosy as 10 to 20% of respondents "do not know" about the future business situation or their brand strength on market.
Also, a majority of respondents views that business will not be the same after the Covid 19 crisis. Therefore the challenge lies in knowing how to anticipate required changes. Overall, the belief that the business environment will not be the same and the confidence in one’s brand means that brand will need to reveal their strength and unique selling points to continue to be relevant in the eyes of Post Covid 19 consumers. In the next article, we will expose the main findings on the perceived C19 Impact on the Product management side of Wines and Spirits. For more about the survey or brand strategy questions, contact [email protected]