Steel Reserve unveil canned Tiki Series
Steel Reserve unveiled its new Tiki Series of high-gravity flavoured canned malt beverages.
Already known for the fruit flavour-packed lineup in its Alloy Series, Steel Reserve’s new Tiki Series dials up the flavour even more with Strawberry Daquiri and Island Punch, which launched this month across the U.S.
Sold in single-serve, 16-ounce cans, the new Tiki Series flavours check in at 10% alcohol-by-volume, up a notch from its Alloy Series, which weighs in at 8% ABV.
“The more we talked to consumers, they often call out how balanced Steel Reserve beers are, with great flavours and the elevated ABV they’re looking for,” says Justine Stauffer, director of economy brands for Molson Coors Beverage Company.
Priced in line with competitors such as Clubtails, the Tiki Series is seeking to appeal to a growing segment of consumers looking for more potent options, Stauffer says.
Research conducted by the brand found that the market for beverages in the 10% ABV range and higher has grown more than 30% over the last three years.
Additionally, spending is up versus last year in small-format retailers, such as convenience stores and bodegas, despite the pantry-loading last year during the pandemic.
“Clearly, there’s something there. Consumers are beginning to reach for higher ABV products,” Stauffer says.
On top of that, she says, this same group of consumers also is looking for bolder flavours and more premium options, even in the economy segment.