The spread of COVID-19 and the ongoing battle to contain it continued to boost sales of fine wines/Champagne and spirits in 2021. Unable or unwilling to travel or to go out to socialise, many consumers turned to producing quality drinks and cocktails at home.
On 18 March 2020 Russia introduced a travel ban limiting access in and out of the country. These restrictions were not eased until 16 April 2021, at which point nationals and permanent residents from some countries were allowed to enter.
Having switched to remote working, people found they were able to drink more, even on weekdays. The lack of other entertainment when not working also contributed to this increased demand for fine wines/Champagne and spirits, with some people seeing alcohol as a “cure” for boredom.
It is anticipated retail demand for fine wines/Champagne and spirits will soften once COVID-19 is contained and bars and restaurants and other entertainment venues are able to function as normal. There were already signs of this taking shape in 2021 with the country’s vaccination programme supporting the reopening of businesses.
With the reopening of Russia’s borders in April 2021 international travel became possible again. The removal of travel restrictions will support the return of foreign tourists, who prior to the outbreak of COVID-19 accounted for 10% of retail value sales of fine wines/Champagne and spirits.
In July 2021, Moët Hennessy Distribution Rus OOO reported in a letter to its Russian partners that it would be temporarily suspending shipments of its Champagne (which includes brands such as Moët & Chandon, Dom Perignon, and Veuve ?licquot etc). It noted that shipments of its Champagne have been stopped due to amendments to Russia’s 171-Federal Law "On the regulation of alcoholic beverages.
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Fine Wines/Champagne and Spirits
This is the aggregation of fine wines and luxury spirits.See All of Our Definitions
This report originates from Passport, our Fine Wines/Champagne and Spirits research and analysis database.
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