NEW YORK — Total alcohol sales are down, partially due to consumers shifting to on-premise locations to buy beer.
All channel dollar sales for total alcohol beverages during the two-week period ending on Nov. 20 were down nearly 3% year-over-year, Goldman Sachs Managing Director Bonnie Herzog said in a research note from the New York-based investment management firm. On a two-year stack basis, though, or the sum of the last two years’ growth rates, total dollar sales for alcohol was up nearly 13% year-over-year.
Here’s a look at how each segment in alcohol performed …
Beer dollar sales remain pressured as consumer purchases continue to shift to on-premise locations like bars and restaurants. Total beer dollar sales were down 4.5% for the two weeks ending on Nov. 20 as the industry continues to lap last year’s COVID-related volatility, Herzog said.
Brands that saw dollar sales growth over the two-week period included by Herzog were St. Louis-based Anheuser-Busch's Michelob Ultra, Chicago-based Constellation Brands’ Modelo and Corona and Boston-based Boston Beer Co.’s Sam Adams.
Hard seltzer dollar sales showed modest growth, reflecting ongoing pressures and tough comparisons to previous periods.
Total hard seltzer sales for the two-week period were up just over 3%. Industry-wide can shortage issues, a shift of some volume to the on-premise channel and an overall moderation in growth trends affected seltzer’s growth, Herzog said.
Hard seltzer competition remains intense given the number of market participants and newer entrants, Herzog said.
One of the hard seltzers early to market, Truly Hard Seltzer from Boston Beer Co., showed double-digit dollar sales growth at 19%.