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 email@example.com
Off-premise beer sales grew 29.3% for the week ended May 9, surpassing the peak dollar sales during the pandemic.
The week ended May 9 was the largest in dollars for a beer, cider, and flavored malt beverages (FMB) since last year’s 4th of July week.
Mexican import beers grew 33.5% during the Cinco de Mayo week. Constellation Brands was likely a principal beneficiary as Heineken’s Mexican brands have had shortages recently since the Mexican government shut down breweries in April.
Hard seltzers logged another week of blistering growth at 334%. Super-premium beers grew 32.7% (Michelob Ultra), premium light beers grew 16.3% (Bud Light, Coors Light, and Miller Lite), craft beers grew 23.7%, cider grew 18.6%, budget beer grew 6.7%, and non-alcoholic beer grew 44.4%.
In the convenience channel, sales increased by 24.6%. Thirty packs and 24 pack cases increased 36% and 35%, respectively, while 12 bags grew 52% driven by hard seltzer (commonly packaged in 12 packs). The average price of a case has increased by 5% or $1 over the past four weeks.
Total alcohol sales off-premise grew 34.8%, led by spirits up 48.5%, while wine grew 35.8%.