Corona's owner says beer sales have slowed because one major customer group isn't buying beer like it used to
Briefly

Constellation Brands reported a 2% decline in beer sales, equating to $2.23 billion in its first quarter. The decline is particularly notable in states with large Hispanic populations, which make up about 50% of its beer consumer base. Survey results indicated that over 80% of both Hispanic and non-Hispanic consumers are concerned about the socioeconomic environment, leading to fewer gatherings. Additionally, half of Hispanic customers expressed concerns about immigration changes since the start of President Trump's second term, impacting their spending behavior.
Constellation Brands reported a 2% decline in beer sales, largely attributed to reduced spending among Hispanic customers, who account for about 50% of their consumer base.
Hispanic and non-Hispanic consumers showed concerns regarding the socioeconomic environment, with over 80% expressing worries about it, leading to decreased group gatherings.
Customers are cutting back on outings, with significant reductions in gatherings at home and in public, leading to decreased sales in areas with large Hispanic populations.
The CEO noted that a majority of Hispanic customers have expressed concerns about immigration changes, correlating with reduced spending in the beer market.
Read at Business Insider
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