Despite everything, Corona is still the world's most valuable beer brand
Pictures of Coronas left behind on grocery store shelves didn't completely diminish the brand's worth
The past year has been a challenge for many brands and businesses – as you can imagine, that includes beer brand Corona. But despite everything, the brand, whose name means 'Crown' in Spanish, managed to keep their title as the world's most valuable beer brand.
During the past year they were met with hesitancy from consumers, mainly in one of their largest markets, the US, due to their similarity in name to the coronavirus. Because of this, their overall worth dropped 28% to $2.243 billion.
Thanks to their resiliency though, Corona currently has a worth of $5.8 billion. They recently announced an initiative to help the restaurant industry recover from the effects of the pandemic, and this week the beer brand opened the UK's first ever 100% natural beach bar. The beach bar, made from all natural materials including sand, wood, clay and bamboo, sits on Porthminster beach in Cornwall.
Both of these moves have shown that Corona is committed to rebuilding its standing with the public's perception.
A Brand Finance report stated that COVID caused the world's top 50 beer brands to lose 16% of cumulative value. Although there were some silver linings, top Mexican brew Victoria, was named the 'strongest beer brand' and awarded a AAA-rated brand strength.
Belgian brewed Michelob, climbed 13 spots in the ranking, following a 39% brand value growth to $1.2 billion, making it the fastest growing brand. Australian brew XXXX and Spain's Estrella Damm are the second and third fastest growing beer brands, with 37% and 31% growth respectively.
What do you think FoodTribers, will you be drinking Corona again, did you never stop, or is there another beer for you?