Molson Coors see hard seltzer growth
Molson Coors is making inroads into its ambitious plans to win a 10% share of the U.S. hard seltzer market by the end of the year.
When Topo Chico Hard Seltzer launched in 16 markets last month, it grabbed a 3.2% share nationally and accounted for 20% of the hard seltzer sales in Texas.
With this year’s additions of Topo Chico Hard Seltzer and Proof Point, along with new flavours and offerings from Vizzy Hard Seltzer and Coors Seltzer, Molson Coors is on its way to hitting that goal.
“We have lofty goals, but we have the brands, we have the innovation and we have the investment to get there and achieve our goals,” says Matt Escalante, senior director for above-premium for Molson Coors.
“Each brand fills a different position in the market, and we’re seeing how that plays out in real time.”
The portfolio strategy is already proving effective. Molson Coors ended 2020 with nearly a 4% share in the hard seltzer segment with Vizzy and Coors Seltzer.
It has built upon that so far in 2021, driving its share up more than 50% to a 6.8 share, according to the data from market-research firm IRI for the week ending April 11.
Molson Coors likewise has ambitious goals in Canada, where it recently launched Vizzy and Coors Seltzer; its U.K. portfolio includes Three Fold, and the nation’s sales leader, Bodega Bay.
“The hard seltzer category is constantly evolving, so we want to get out in front of the trends and be a leader in what’s happening,” says Escalante. “We are moving to get ahead of where the consumer is to offer true innovation in the hard seltzer category. That’s something you’ll see more of from our brands in the future.”
Like what you read? metalpackager.com/subscribe