Is the fact that Anheuser-Busch InBev has reported a £132m pound loss in profit due to the decline in sales in Corona beer following the outbreak of coronavirus evidence of a little bit of an over reaction around the world?
Yes, the beer and the virus share a similar name. No, you can't catch the virus by drinking the beer. So is the slump in sales simply due to an irrational fear resulting from a branding coincidence?
In fact, it seems that the reason for the decline in profits is simply because of sales slowing in China, partly due to the outbreak of the virus, which coincided with Chinese New Year, which is presumably when beer sales would usually peak.
However, in keeping with the general media hysteria around this topic, it seems the media can't resist reporting the story by implying a causal connection between the brand name and the sales slump.
We are therefore pleased to include the infographic below in order to remove any confusion. Cheers!
The brewer behind Corona beer has warned of the steepest decline in quarterly profit for at least a decade after the coronavirus outbreak cost it $170 million (£132 million) in lost profit.