Food - Drink
Molson Coors' Success Proves Beer Might Be Immune To Inflation
By KATIE LENHARDT
As inflation rates continue to rise, it's no wonder that consumers find themselves sitting down with a cold brew at the end of a long day full of sticker shock. While shoppers are pinching pennies elsewhere, they seem to draw the line when it comes to beer, as evidenced by Molson Coors' gains during record inflation.
Despite inflationary pressures, it's not just the economy beer brands that have seen sales success. Molson Coors reported that premium beers like Blue Moon and Peroni accounted for a record high portion of net sales revenue in the company's global portfolio.
Molson Coors' CEO Gavin Hattersley says that consumers often opt for premium beers even during tight economic times. AB In Bev's CEO, Michel Doukeris, explains that when shoppers are under pressure from inflation, it's less expensive to trade up for a premium beer than it is to opt for other more expensive luxuries.