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Below is a complimentary excerpt from an institutional 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 |
When explaining the difference between IRI POS sales results and actual results, Constellation Brands said one of the factors was that "IRI over-indexes to chain large format stores" and "under-indexes to independent markets, such as New York and New Jersey."
National Retail Solutions operates one of the largest POS networks for inner-city, neighborhood convenience stores.It monitored beer sales in markets with a stay at home restrictions like NYC, L.A., San Francisco-Oakland-San Jose, Detroit, and Philadelphia the week of Memorial Day (5/22-29).
In aggregate, beer sales for the Memorial day period increased by 28.6% YOY in the tracked bodegas.
This compares to the overall sales growth of 16.3% for non-beer sales over the same period.
Bodegas in California had the fastest growth rate of over 50%. Modelo Especial had the highest YOY dollar growth of 32%, followed by Pacifico, Bud Light, Modelo Chelada, and Michelob Ultra.
Beer led all other categories in dollar growth, followed by other alcoholic beverages, mixers, and tobacco products.
The top items purchased along with beer were lottery tickets, Coca-Cola, Marlboro and Newport cigarettes, Red Bull, Poland Spring water, and Doritos.
