And yet, despite all this irrationality, COVID-19 is having real-life ramifications for the Corona brand. Constellation Brands, one of the world's largest wine companies, is expected to become the third-largest beer supplier in the United State today with a $5.3 billion purchase of the US distribution rights of Grupo Modelo beers from Anheuser Busch InBev. "After all, what brand wants to be linked to a virus which is killing people worldwide?"
Torossian said while the Corona company claims its consumers know there's no link between the beer and the virus, the situation is "a disaster" for the brand. One spokesperson said to CNN Business, "Sales of Corona remain very strong and we appreciate the continued support from our fans".
The firm also reported that only 4 percent of people who usually drink Corona would stop drinking the beer entirely, but 14 percent said they would stop drinking the beer in a public setting.
Of the 737 American beer drinkers surveyed by 5W Public Relations, 38 per cent of them said they would not buy a Corona under any circumstances. "Our advertising with Corona is consistent with the campaign we have been running for the last 30 years and is based off strong consumer sentiment", a spokeswoman told CNBC.
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Promotion for the product has sparked criticism over a sponsored tweet that uses the phrase "coming ashore soon".
"Shares of Corona-maker Constellation Brands Inc. dived 8 per cent this week in NY", the Bloomberg report said. That's according to a survey of beer drinkers. The so-called purchase intent among adults in the USA has plunged to the lowest in two years, according to data from YouGov Plc. Additionally, their research shows Corona's "buzz score"-which follows positive versus negative talk about brands-has plummeted since the first case of the illness was discovered".
Constellation's Newlands said those reports do not reflect the company's business performance, calling the "misinformation" about the virus' impact on Corona's business "extremely unfortunate".
Constellation Brand's stock fell 6 percent on Thursday, though that drop came amid a historic day of losses on Wall Street.