Bud Light Platinum Shines in First Three Months
"Innovation is a key driver for our U.S. business": A-B CEO
ST. LOUIS -- Less than four months after its roll out, Anheuser-Busch InBev is crediting its new Bud Light Platinum with boosting the company's share of beer sales.
Bud Light Platinum, which was rolled out at the end of January, has already achieved a 1.4 share of beer market in the United States and very healthy brand awareness, according to AB-InBev CEO Carlos Brito.
"Awareness for the brand has grown very quickly, achieving over 70% among our core target group of 21-to-34-year-olds," Brito said on an earnings call with analysts last week. "Trial and repeat purchase has also been positive. Initial research shows that 42% of triers have made a repeat purchase. And of these, over 50% have bought Bud Light Platinum two or more times. Of course, these are early days for the brand, but the results are encouraging and ahead of our expectations."
According to Brito, IRI data for the four weeks through April 1 show the brand has achieved a 1.4% share with more than 90% distribution in food, drug, mass merchandise and convenience channels.
"Bud Light Platinum also demonstrates the strength of our distribution network," Brito said. "But what's even more impressive is that this performance has been achieved with a single primary pack, the signature cobalt-blue 12-ounce bottle, and only two secondary packs, the 6-pack and the 12-pack. As I mentioned, Bud Light Platinum has helped to drive 64 basis points of share growth for the Bud Light brand family."
Brito said he has high hopes for several other new products just rolling out now.
"Bud Light Lime-a-Rita, which is currently being rolled out to wholesalers, will further add to the strength and appeal of the Bud Light brand family," he said. "And our new [Michelob Ultra] line extensions, Ultra 19th Hole and Ultra Light Cider, will help to build consideration and expand usage occasions."
"Clearly, renovation and innovation is a key driver for our U.S. business," Brito said, "and we have plenty of new offerings either in the market or to be launched in the coming weeks. It's a very exciting lineup."