During a recent interview, Bacardi CEO Mahesh Madhavan was asked what he thinks about the drop in people out socializing and enjoying alcohol and his response left us floored.
Mahesh says that Bacardi is seeing is a big pull through at the off trade and in places like Kroger's and Walmart where they are seeing a huge spike in sales. He also says there's been a huge growth in e-commerce with sites like Drizley reporting a sale increase of 300%-500% during the quarantine period.
Drizly, an e-commerce platform for alcohol delivery operating in more than 100 markets across the U.S. and Canada, also saw sales that were 300% higher last week with consumer tabs up 50% more than what they typically spend, Liz Paquette, head of consumer insights at Drizly, told FOX Business.
“Ninety-eight percent of our retailers are still online and operating for delivery. We plan to continue operating and supporting our partners and customers until we are told otherwise,” Paquette said in a statement.