In this weekly podcast, Euromonitor International discusses the impact of the coronavirus on industries, economies and consumers.
In this episode, we look at the impact of COVID-19 on the packaged food and soft drinks industries. Like many consumer goods, there has been a huge surge in demand for both shelf-stable soft drinks and packaged food as the crisis continues.
Manufacturers are stretching their supply chains as much as possible as they attempt to keep up with consumer demand. Soft drinks, in particular, has benefited from the direct store delivery model that some bottlers employ, allowing them to get to the store on their own trucks without having to use external logistics.
One of the biggest shifts as a result of the COVID-19 outbreak is more consumers are trying out online grocery purchasing, and we may see many consumers stick with this method in the future. Whether that's going to a store to pick groceries up or having them delivered, there has been a huge uptick in the number of online grocery purchases.
Looking towards the future, it is still unknown how severe the crisis will be on foodservice chains. The soft drinks industry, in particular, is losing massive amounts of revenue as consumers eat more meals inside.