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Jack Daniels Owner Reveals The Biggest Alcohol Trend In 2020 So Far

The chances are high that you have indulged in a Jack & Coke or ready to drink bottled or canned cocktail while under quarantine. And you probably aren’t alone, suggests Brown-Forman, the owner of Jack Daniels.

“I almost call it a phenomena that has happened in the U.S. It’s the amount of home consumption of spirits. What you have is the dynamic where the bars and restaurants close and global travel retail — which is a big segment for us at close to 25% to 30% of the business — goes not all the way to zero, but close to it.

So the grocery channel, the liquor store channel and all those locations are absolutely booming now as consumers love to throw the home parties. It has worked out well for us,” Whiting told Yahoo Finance’s The First Trade. Whiting isn’t kidding about consumers having thrown a few stiff ones back at home since March. Off-trade spirit sales for the week-ending Aug. 22 surged 26.2%, according to data from Nielsen, continuing their blistering pace from the height of the pandemic. American and Irish whiskey sales rose 27.8% and 27.6%, respectively. Tequila sales spiked 59.1%. Ready to drink cocktail sales gained 101%.

While Brown-Forman wasn’t immune from the closures of bars and reduced travel in its most recent quarter shared this week, results were padded by strong at-home alcohol consumption.


read more on finance.yahoo.com