Did you bet your neighbor that the hard seltzer craze would end in 2020 and we’d seen it all when Smirnoff dropped the Red, White & Berry sell-dog? Drop off a case on your neighbor’s porch because you lost the bet and I can prove it because Coke announced it will get into the hard seltzer biz with the launch of Topo Chico Hard Seltzer in 2021.
I hate to go all Karren Rovell on you guys and report on new seltzers coming to stores near you, but this is a whole new animal with Coke getting into the fight with its very own lemon-lime concoction. According to Bloomberg, Coca-Cola is looking to diversify its drink portfolio as people slow their consumption of sodas.
The soft drink giant, which aspires to be a “total beverage company,” said it will offer Topo Chico Hard Seltzer in “select cities” in Latin America later this year. Coca-Cola cited Topo Chico’s popularity in cocktails and mixed drinks. The company also confirmed to Bloomberg News that it plans to offer the product in the U.S. in 2021.
— Sara Eisen (@SaraEisen) July 30, 2020
It’s not just Coke trying to figure out where beverages are headed and how to keep making money. Boston Beer’s numbers speak volumes. It would be unwise to bet against seltzers right now.
Change your name, Boston Beer 🍻
The Sam Adams brewer isn't a beer company anymore:
🍹 75% of its sales are non-beer drinks
🍹 Its Truly hard seltzer is #2 behind White Claw
🍹 Its Twisted Tea has 90% of hard tea market share
Our idea: Go with "Boston Booze"@RobinhoodSnacks
— Nick Martell 🍿 (@NickOfNewYork) July 27, 2020
Hard seltzer sales expected to jump from $3.5 billion this year to $6.5 billion by 2024. Both companies will benefit. @cbrands also has its stake in $CGC w/THC infused beverages debuting recently. Two great verticals to juice growth. Beer and wine revenue provide fcf to do so.
— Brad Freeman (@StockMrktNerd) July 26, 2020