Hard Seltzer Demand is Cooling as Bars Reopen
Demand mentions for “hard seltzers” generically are pacing -8% YoY.
Digging into the data, we noticed 2 themes:
1. The Hard seltzer market is getting crowded. White Claw, the giant in the seltzer segment, is losing market share — mostly to Truly (SAM) and Bud Light Seltzer (BUD). It’s a good sign for both companies to be taking a larger piece of the pie. But the pie’s overall growth is stalling significantly.
LikeFolio data shows the flip-side of this reopening effect in action.
Draft Beer, and “beers on tap” mentions have increased +33% YoY on a 30 day Moving Average.
And consumer mentions of going out to a bar or restaurant have increased +19% YoY in the same time frame.
While BUD commands mention volume, STZ Happiness remains high, led by strength in its Modelo, Pacifico and Corona Brands.
STZ reports 22Q2 Earnings October 6 before the bell.