I recently presented on a Path to Purchase Institute webinar alongside Molson Coors Company’s Stephanie Spesia and Spark Foundry’s April Carlisle. During the webinar, we discussed various topics including BevAlc trends and how Molson Coors is driving performance with personalization. Below are some key takeaways from the content and discussion.
#1. Beer sales are moving beyond recovery and into growth
Revenue in the Alcoholic Drinks market will reach $283.8bn in 2023 with the large majority coming from beer. In fact, beer sales are expected to surpass $120bn. This is significant as it’s the first time beer is expected to surpass pre-pandemic sales, which means that the category is finally moving beyond recovery and unto growth. There are a number of factors contributing to this increase, including the opening of new bars, pubs and restaurants, an increase in home consumption and a growing demand for convenience.
#2. Sports viewership is on the rise
Another key area of change surrounds sports. Deloitte surveyed more than 3000 sports fans and found that 90% of fans said their fanhood had grown over the past 3 years. And so has sports viewership. The 2023 NCAA tournament drew nearly 10 million viewers for the final game between Iowa and LSU—up 103% from the previous year. The WNBA draft audience increased 42% between 2022 and 2023 and was up 89% with female viewers. Additionally, ESPN’s Major League Baseball game viewership has increased by 7% YoY and the 2023 NFL draft saw its TV and digital audience increase by 12% YoY across US broadcasters.
#3. Beer consumption and sports viewership form a winning combination
With sports consumption comes alcohol consumption. On average, 3.7 alcoholic drinks are consumed while watching sporting events. Unsurprisingly, beer is by far the most popular alcoholic beverage consumed by sports fans on game day — a massive 76% of fans preferred it over the next most popular choices, vodka and whiskey. This presents a significant opportunity for BevAlc brands like Molson Coors to reach the sports audience during moments of influence with a personalized message.
Stephanie from Molson Coors shared how the brand approaches personalization when it comes to their sports strategy, detailing the company’s approach to their Super Bowl campaign, and how Aki supported their efforts.
Watch the webinar replay to learn about these efforts.
If you have any questions or would like to discuss sports strategies in detail, feel free to contact me directly at rc@a.ki.
Risa Crandall, SVP CPG Strategy and Sales at Aki