The pandemic means fewer occasions to celebrate together. Concurrently, that means less bottle of champagne to be popped. With fewer weddings, birthday parties, and other gatherings, the global champagne industry is down by $2 billion dollars in sales this year. The deficit is worst than the Great Depression. Industry experts think over 100 million bottles of champagne will be unsold in cellars by the end of 2020.
Champagne is losing its fizz. For months, lockdowns have put the cork on weddings, dining out, parties and international travel — all key sales components for the French luxury wine marketed for decades as a sparkling must at any celebration.https://t.co/ya1aCBjRu7
— NBC News Business (@NBCNewsBusiness) July 31, 2020
Frankly, what is there to celebrate right now?
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