Seltzers Losing Steam

Dear Client:  It took a while, but hard seltzer is finally slowing down. In fact, the segment is decelerating quite dramatically in the latest IRI scans to October 4. IRI doesn’t break out hard seltzers as a stand-alone segment in this data, but it’s clear when looking at the full FMB segment, which consists mostly of hard seltzers nowadays, that’s something going on. FMBs, which are up 75% YTD in IRI’s multi-outlet and convenience channel, saw its growth drop by