I want to share some statistics I found.
Because of Corona the rum revenue sank by 8.4% to ~15,000 Million $ in 2020. Whisky revenue sank by 6.4% to 80,500 Million $.
From 2010 to 2020 we spent 20% more per unit.
USA is the biggest consumer of rum in the world.
Tanduay (Philippines) is the biggest rum producer, Bacardi is the second.
There will be an increase in consumption and revenue in 2020.
Rum is not as trendy as gin. Gin revenues rises faster.
Rum market is not as big as the whisky market.
If you want to support rum producers, buy now.
Prices should be good in 2020 because of the weak revenue.
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I'm surprised rum revenue fell because of Covid, I had heard overall people were drinking more but now at home.
Yeah that defies logic a little. I wonder if it’s because folks often order drinks at bars that include rum, and that the bars have been closed?
I can imagine a lot of rum being poured on a normal bar night. Multiply that across the world and that’s a huge number.
I’ve done my part to keep the rum industry alive in 2020, however! Guess I’ll keep buying more next year too!
One rum brand owner here in London told me bars are in essence a way for them to gain exposure, while the real revenue is driven by people buying their bottles from stores. But maybe the top 3 (Bacardi, Captain Morgan, etc) make money through bars and the rest through stores? It would be interesting to see if that's the case and if so have the smaller producers benefited from Covid...?
That was my thinking as well. I can’t imagine bars selling that much rum in a night. Everyone I know has been buying a lot more booze for home consumption. Hope they keep sending mine :)
My rum consumption went up with at least 10.000 % just because of Covid-19. To balance it out my wine consumption dropped over 50% so it all balances out!
Same here, I buy rum as if there is no tomorrow.
You guys crack me up. I have a dozen unopened bottles and I’m still looking for more!
I stopped drinking wine as well. Have me horrible heartburn anyway! Now, worthy park or hampden?
Before the corona I had drunk about 4 types of rum and bought 2 bottles of rum in my whole life; since the pandemic started I have emptied 11-12 bottles, I have 7 bottles open at this moment and a collection of almost 50 unopened bottles.
wine consumption fell by about 50%.
Great. I have a lot of catching up to do!
I would start with Worthy Park Estate 45%.
If you want to start cheap I would buy the Smith&Cross (Hampden).
@vomi, I have some worthy park in the pipeline now! Just waiting for it to arrive!
Drinking at home is a huge money saver for me. As soon as I take the first drink, I do not drive and I do not have a designated driver. If I can't drive anywhere, then I am not spending money unless I order music CD's from Amazon (and that has come grinding to a halt because I already have 67 days of non-stop music in my library). To top it off, rum is quite healthy and my A1C results keep going down with each blood test. I just smile and don't tell the doctor that gluten free rum with no added sugar can be credited for this.
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