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The beer industry suffered a setback amid the COVID-19 pandemic as retail beer sales plummeted because stadiums, concert venues, bars and restaurants were closed or operated at limited capacity. However, according to a study by The Beer Institute, the majority of Americans’ beer consumption remained unchanged amid the pandemic. Beer consumption is expected to increase in the coming months with the reopening of bars and restaurants and an increasing demand for new flavors. So, we think both ABEV and BUD should benefit from increasing demand this summer.
ABEV has gained 32.4% over the past year, while BUD returned 31%. Also, ABEV’s 38.3% gain over the past nine months is significantly higher than BUD’s 21.2% returns. Furthermore, in terms of their past three months’ performance, ABEV is the clear winner with 23.1% gains versus BUD’s 6.7% returns.
