Chaotic Summer Masks Category Weakness

Dear Client: The beer business in the U.S. is in sorry shape. Off-premise scans are showing beer volume down 3% so far this year, with domestic premium (including lights) down 5.8%, below-premium down 2.9%, super-premium down 4%, and craft down 3.9% (NIQ ytd 09/16/23).  The only segments that are up are imports, up 4.8%, and FMBs, up 14% (thank you Modelo Especial and Twisted Tea). Retailers are busy re-jiggering their shelves and promo calendars and planning strategies for the Spring.