In response to industry demand for greater clarity during global threats, IWSR Drinks Market Analysis, specialist for data and intelligence on the global beverage alcohol market, revealed plans to launch the IWSR Coronavirus Risk Assessment Model (CRAM).

According to the IWSR this tool will quantify and forecast the impact of key global events, giving industry leaders data-driven insights and situational forecasts to navigate the situation and manage risks. Available from Q2 2020, and updated quarterly, the IWSR Coronavirus Risk Assessment Model will quantify the virus’ impact to the global beverage alcohol market, including scenario forecasts for the short, medium, and long-term. IWSR will leverage its footprint of global analysts and their extensive network of over 1,600 local on-the-ground industry contacts, to quantify and forecast the impact of the coronavirus on beverage alcohol consumption by key categories, markets, price segments and channels. IWSR’s local market knowledge will be bolstered by its access to critical industry insights, historical trends & data from the impact of previous global crises, and consensus forecasts from financial Institutions.

Mark Meek, IWSR CEO, said: “In this rapidly evolving situation, the IWSR Coronavirus Risk Assessment Model will give industry leaders the clarity needed to confidently respond to a serious event with global implications. Early reports indicate that the revenue and profit impact to the industry will be in the billions of dollars. Initial signs are that Global Travel Retail and on-premise sales in China have suffered a severe downturn, and that other affected regions, such as Northern Italy and South Korea, are starting to see a similar impact. The ecommerce channel is already seeing increased activity as public transport and normal day-to-day activities, such as school and office attendance, are curtailed in several markets.”

Initial markets that will be covered by the IWSR Coronavirus Risk Assessment Model include Global Travel Retail, China, South Korea and Italy, with other key markets to be added if required.