As the Novel Coronavirus/COVID-19 sweeps across the globe the financial effects of this pandemic increased each and every day. Brewers across the globe are not immune to this crisis either and are beginning to feel the hardships from this global pandemic.
To offer a bit of assistance to the brewers, Crosby Hops is offering some financial relief to its brewer customers that includes free shipping, extended payment terms and one on one hop contract analysis.
Yesterday the Brewers Association published a survey where it asked brewers how the COVID-19 pandemic is affecting their business. Over 600 breweries replied to this survey and 98.9% of brewers state that urgent financial relief is very necessary.
Here’s a synopsis of this survey from the Brewers Association…
Has COVID-19 already impacted your business? (Check all that apply)
Yes, through onsite sales = 90.0%
Yes, through distributor orders = 58.8%
Yes, through cancelled events = 89.0%
No = 1.1%
What do you anticipate your YoY sales to be over the next month compared to last year?
Down = 95.2%
Flat = 2.6%
Up = 1.0%
No response = 1.3%
Have you changed your production schedule in response to COVID-19?
Stopped = 24.7%
Slowed = 64.1%
No change = 9.9%
Blank = 1.3%
Do you currently anticipate layoffs as a result of ongoing events?
Yes = 57.7%
No = 9.5%
Unsure = 31.3%
Blank = 1.5%
Crosby Hops will now offer some relief as it relates to hop purchases. “Even in a time of physical separation, we are all interconnected and must act quickly and responsibly to support our communities,” said Blake Crosby, Crosby Hops CEO, in a press release. “We are committed to doing our part to lessen the impact by offering more flexible financial terms for our customers who we consider part of the Crosby Hops family. Our hope is that these measures help make it easier for craft brewers experiencing hardship to keep on brewing.”
Financial relief options available to brewers in the United States now include:
Free standard freight for all orders, (spot and contract) through April 30, 2020
Financing and Support:
○ Current Crosby Hops credit accounts will have payment terms extended to Net 60 effective immediately through April 30, no questions asked.
○ One-on-one hop contract analysis and needs assessment with a Crosby account manager.
○ A suite of support materials and links to financial resources for those in crisis.
NOTE: This program is currently available for U.S. brewers only.
At its headquarters in the Willamette Valley, Crosby Hops prioritizes employee health and safety. Following WHO, CDC, and state guidelines, work from home and onsite social distancing and sanitizing practices are in effect, along with support for employees experiencing hardship during this challenging time. The company will continue to adapt and evolve its practices and offerings – internally and externally – so that we can weather this crisis together.
D.J. is a Portland, Oregon based writer that spent his formative years in the Midwest. With over 25 years under his belt of drinking beer at festivals across America and the world, he has developed a strong appreciation and understanding of craft beer and the industry that surrounds it. He can be found in any of the great breweries or beer bars that make Portland the best beer city in the world. His writing can also be found in the archives of Northwest Brewing News and can be followed on Twitter and Instagram at @hopapalooza.