China’s Small and Medium Wine Importers Will Be Under Greater Pressure
Currently, the China wine industry will accelerate the reshuffle. Due to the impact of the global epidemic on the global economy and purchasing power, as well as international logistics, small and medium importers will suffer from the consequences of channel disruption and customer loss. In the future, both European and Australian wine exporters might have to sell their products at a lower price.
2020 China Food & Drinks Fair Postponed Until Further Notice
Due to the regulation announced by the state government, the organising committee has decided to postpone the 102nd China Food & Drinks Fair again, which was originally scheduled to be held from 21 to 23 of May, 2020 in Chengdu, Sichuan Province.
McKinsey Says About 30% Chinese Consumers Reduce Their Daily Alcohol Consumption
The Leading Global Management Consulting Company McKinsey & Company has published the M&S COVID-19 China Consumer Pulse Survey, mentioning nearly 30% of Chinese consumers have cut off their alcohol consumption, and eight percent of those consumers reported a significant reduction in alcohol consumption because of the sharp contraction in demand during COVID-19 outbreak.