How canned hard drinks took over the alcohol market
Oct 4, 2024
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The podcast dives into the rise of canned hard drinks, highlighting a 22.5% sales increase in ready-to-drink cocktails. It contrasts this with the short-lived hard seltzer craze and discusses why consumer preferences are shifting. Additionally, it touches on Tesla's major recall and how tech advancements are impacting various industries. The conversation also explores how brands are marketing these convenient beverages, focusing on low-calorie aspects to appeal to health-conscious drinkers.
15:49
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Quick takeaways
The rapid rise of canned cocktails reflects a significant shift in consumer preferences towards convenient, high-ABV alcoholic beverages.
Effective marketing emphasizing low-calorie options has been crucial in attracting health-conscious consumers to the ready-to-drink cocktail market.
Deep dives
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Canned Cocktails Surge Amid Industry Decline
The rise of ready-to-drink cocktails marks a significant shift in the alcohol industry, with sales surging over $13 billion in the past year. While traditional alcoholic beverages like wine and beer are experiencing notable declines, ready-to-drink options, including canned cocktails, are thriving as consumers seek convenience and potency. These drinks often have higher alcohol by volume (ABV) than typical hard seltzers, attracting a market eager for more impactful experiences. This trend reflects a growing preference for easy-to-consume beverages that fit into a busy lifestyle.
Marketing and Consumer Behavior Trends
The marketing strategies surrounding ready-to-drink cocktails have played a crucial role in their popularity, particularly the emphasis on low-calorie content. Brands are capitalizing on health-conscious consumers by positioning their products as a more convenient and potentially healthier alternative to traditional cocktails. This trend is bolstered by shifting consumer behavior, where modern drinkers prefer less hassle and greater value for their money. As the market continues to expand, new brands are emerging, signaling the potential for sustained growth in this segment despite concerns over a possible bubble.
Hard seltzer made waves in the late 2010s and early 2020s as the new favorite alcohol form on the block. Ultimately, that didn’t last too long. The new darling on the alcohol market are canned spirits & cocktails and they’re running away with a staggering amount of the profits. So how did this happen? And will this boom last? Plus: OpenAI almost doubles its valuation and Tesla recalls thousands of Cyber Trucks.
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