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Budweiser APAC to invest more in ecommerce

Thursday 7 May 2020 15:22 CET | News

APAC-based lager Budweiser has announced is planning to invest more in ecommerce due to higher consumer demands.

During the COVID-19 pandemic, many eateries and bars from China shut their doors, while consumer traffic from South Korea reported a significant decrease. As a result, Budweiser swung on 5 May 2020 to a loss of USD 6 million for the first quarter compared to 2019’s USD 259 million profit, Yahoo.com stated. 

Consequently, the company decided to relocate resources to its ecommerce businesses, while keeping up with growing customers’ demands for their Budweiser, Corona, Stella Artois and Hoegaarden beers.
Moreover, China offered ample growth potential as the premium segment only formed about 16% of its total beer market, far smaller than the proportion of about 40% in mature markets in the West, the company’s officials reported.

Source: Link


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Keywords: Budweiser, Budweiser APAC, APAC, ecommerce, China, COVID-19
Categories: Payments & Commerce
Companies:
Countries: China
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