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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 |
During the week ended May 16, the overall beer category grew 25.5%, decelerating slightly from the 29.3% growth in the previous week. (It’s worth noting the previous week was a record week.)
Hard seltzer continued to grow at a blistering pace of 311%. Premium light beer (Bud Light, Coors Light, etc.) grew 12.6%, below premium grew 6.5%, super-premium grew 24.2%, total craft beer grew 19.7%, FMBs excluding hard seltzer grew 27.7%, and non-alcoholic beer grew 37.5%. STZ’s Corona and Modelo brands grew by 26.8%. Boston Beer company grew 89%. Twelve pack packages grew 46.6%.
12 pack can packages, in particular, grew in dollars more than the total combined gains of the next five largest package formats. Spirits sales increased by 38.8%, while wine sales grew 30.8%.
As Constellation Brands (STZ) explained earlier in the week, the scanner data captures the sales data of what are the strongest retail channels currently and omits independents and state-controlled package goods stores that are more often closed or performing weaker than the large chains.
So the scanner data isn’t as accurate as a representation of the off-premise channel as it was in pre-COVID 19 times and, of course, does not include the on-premise channel.
