Impact of Covid-19 Pandemic on Food and Beverage Companies

Qianyi Luo ()

A chapter in Proceedings of the 2022 4th International Conference on Economic Management and Cultural Industry (ICEMCI 2022), 2023, pp 264-273 from Springer

Abstract: Abstract AS COVID-19 was spreading out at the end of 2019, the economies in the different countries have been impacted to varying degrees, and most industries are shocked. This paper, through the method of literature review, aims to describe domestic food and beverage companies in China and international food and beverage companies, examines the general trend of the food and beverage industry before and after the epidemic. Additionally, it analyses the differences between the behaviours of these two kinds of companies by graphing the data. According to the data analysis, the paper finds that food and beverage industry is developing steadily. The COVID-19 epidemic has an impact on the food and beverage industry, but it is not as severe as it is on other industries, such as the catering industry and tourist industry. Generally, the revenues and cost of sales are both increasing, and the profit rate is stable. In most sample companies, the rate of capital spending stays low, except for one Chinese domestic company. By comparing the data between the domestic and international food and beverage companies, it is obvious that there is still a huge gap between Chinese domestic companies and international companies. Domestic companies have a smaller scale and market. Their ability is not strong enough to cope with the unknown risks, so they hold more cash to prevent accidents. Besides, domestic companies in China do not pay enough attention to the community and environment. Some suggestions from the angles of operation mode, financial situation, innovation and soft power are provided to help domestic companies make progress.

Keywords: Food and Beverage enterprises; COVID-19; Social responsibility; financial situations (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-098-5_32

Ordering information: This item can be ordered from
http://www.springer.com/9789464630985

DOI: 10.2991//978-94-6463-098-5_32

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().