The growth of hard seltzers and spirits-based, ready-to-drink offerings has reached “unicorn” status, Brandy Rand, chief operating officer for the Americas for market research firm IWSR, told Brewbound during the latest edition of Brewbound Data Club.
“The growth of RTDs and the growth of hard seltzers has really been a bit of a unicorn, a game changer when we start talking about really being a permanent or a new category that’s really changed the dynamic of total beverage alcohol in the U.S. market,” she said.
Rand walks through the latest trends in RTDs and hard seltzers, and explains why those segments still have a long runway of growth ahead of them. She also shares why spirits companies are likely to take their top brands into the RTD space.
“If I’m a spirits company and I know that my target consumer is drinking hard seltzers, then I want to create an opportunity for them to stay within the branded experience,” she said.
In the 40-minute conversation, Rand dives into the importance of premiumization, strategies in low- and non-alcohol spaces, and flavor trends.
Get more insights from IWSR via its 5 Trends Driving Global Beverage Alcohol in 2021 & Beyond.
Watch the latest installment of Data Club above, and check the Brewbound event calendar for upcoming on-demand streaming shows.