The lingering summer in Spain made for one of the warmest Oktoberfests on record. The warm weather ensured people continued to drink good beers, giving breweries one of the most successful quarters in a long time.
Short sleeves, people on the beach, sun and sometimes a nice splash in the sea… It may look like a summer picture, but the reality is that this was the picture from October. With an average temperature of 18 degrees in Spain, last month was the hottest October since the 1960s. In Spain it was on average 4 degrees warmer than normal for October, but also in the rest of Europe it was on average 2 degrees warmer than usual.
Summer weather perfect scenario for beer lovers
Normally in the autumn it is time to dip churros in chocolate milk, but this weather requires different needs. The warm weather creates the perfect scenario for beer breweries, for example, to extend their season. Research by Citi shows that there is a clear relationship between the weather and people’s drinking.
People tend to drink less beer in extreme weather. The demand for beer decreases in both colder and extremely hot weather. Drinking also decreases when it rains because people like to enjoy a beer outside on the terrace.
Great months for beer brands thanks to good weather
The conclusion is therefore that breweries such as Carlsberg, Anheuser-Busch InBev and Heineken had a peak month in October with wonderfully mild and dry weather. Preliminary forecasts suggest that breweries are in for one of the best quarters in ages. Brands such as Corona, Artois, Leffe and Budweiser also expect to have some of the best year-end closes in recent years.
Breweries expect pre-pandemic sales levels
It’s not just beer sales that look rosy. The weather is also creating an optimistic mood on the stock market. The results of various listed beer brands have increased considerably in the past period. Two years after the start of the pandemic, it appears that breweries will return to their pre-pandemic sales levels. Even the current inflation does not seem to match the expected profit results of beer brands.