This study examines the ripple effects of the decline in the demand for commercial food and beverage products caused by the spread of COVID-19 among upstream companies, focusing on the pathways of these effects through inter-company transaction relationships.The analysis reveals that the distance between transactions from restaurants and bars affected the pace of sales recovery of upstream companies after the spread of the pandemic.In particular, companies upstream of food wholesalers, such as those engaged in processing, manufacturing, and raw material production, experienced sales recovery rates that up to 9 percentage points lower after the start of the pandemic.
Kiyotaka Ishikawa (Thu,) studied this question.