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Below is a brief excerpt from complimentary research note written by our Consumer Staples analysts Howard Penney and Daniel Biolsi. If you are an institutional investor interested in accessing our research email sales@hedgeye.com |
Off-premise beer category sales grew 28.1% to $967M during the week ended May 2, according to Nielsen. Sales growth continued to accelerate week over week, as seen in the following chart.
Dollar sales nearly reached the level of last year's Fourth of July week driven by Cinco de Mayo, but still trailed the week ended March 21. Beer category sales since March 8 (pre-pandemic) have grown 22.6% while volumes have grown 16.2%.
As strong as that growth is, total alcohol volumes would have to grow 22% to compensate for the loss of on-premise sales according to Nielsen. Anheuser-Busch InBev and Molson Coors grew a combined 20% for the week. Hard seltzers grew 367% for the week accounting for 30% of the beer category's growth off-premise.
Craft beer grew 30.5%, spirits sales grew 38.6%, and wine grew 35.8% for the week ended May 2.
The convenience channel posted its strongest sales week to date, with 24.2% growth. Hard seltzers grew 490% while Mexican imports grew 35.8%.
