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Ready-to-drink, canned cocktails booming with Bacardi
‘To go cocktails,’ virtual happy hours changing alcohol industry
Distilled Spirits Council of the U.S. CEO and President Chris Swonger discusses how coronavirus has impacted his industry, leading to more alcohol sales at grocery and liquor stores.
Ready-to-drink cocktails are seeing a spike in demand this summer, fueling a new era of innovation within the alcoholic beverage industry. As more people spend more time sipping drinks outdoors due to pandemic-related restrictions, portable and conveniently packed drinks are dominating the market space.
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In the advent of canned rosé brands, hard seltzers and now canned cocktails, major alcohol companies like Bacardi are launching pre-mixed canned drinks.
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“We knew we would see an increase in sub-segments of hard seltzer this summer with a focus on lower alcohol by volume, healthy ingredients and bold flavors,” vice president of Bacardí Rum for North America Lisa Pfenning told FOX Business. “And we wanted to be ahead of that curve.”
According to Pfenning, prepared cocktails, a relatively new category, is the fastest growing major spirits segment in the U.S. right now. The category has seen a growth rate of 36% up from last year, and a large portion of that growth in the past three years has been fueled by innovation. Bacardi’s ready-to-drink cocktails launched in May, and the line features three pre-mixed rum cocktails including flavors like lime & soda, limon & lemonade and rum punch and spanning from seltzer-like to flavorful varieties.
Demand and total sales have more than doubled what the international company had forecast.