For months,
Now we know how much to expect.
'We expect to be the biggest beneficiary of this spring's shelf resets in
THE BIG PICTURE
This massive increase in shelf space started taking shape in the back half of 2023 when
And, as president of
The gains come as
ZOOM IN
Winning substantial share of shelf space is a major proof point that
Of course, gaining space means more product on retail shelves. But it also indicates a larger, more visible presence for
And it's driven, in part, by
'We are the beer category captain for 50% of the retail volume in the country,' he said. 'Retailers trust our insights and our understanding of the category. They trust our strategic partnership and our belief in category growth. And that is exactly why our team draws ... many more retail sets than our strong market share would suggest that they should.'
Overall,
Hattersley said this creates a major opportunity for the company's core brands to continue reaching new and existing consumers.
Meanwhile,
Coors Light, Miller Lite and Coors Banquet are all growing dollar and volume share of the industry, according to Circana.
Coors Light picked up more than a full share point of industry volume so far this year, per Circana; more than any other beer brand in the total market. Miller Lite and Coors Banquet are growing share of total beer, as well.
'In the latest four weeks, that share growth is accelerating compared to the trends we saw in the fourth quarter of 2023,' Hattersley said.
That's in addition to
THE BOTTOM LINE
The gains on shelf are just one result of
Hattersley reiterated that the company is positioned to continue growing in 2024, citing the strength of its core portfolio, innovation coming from its Beyond Beer portfolio, smart, strategic marketing investments and its increasingly premiumized lineup of products globally.
'The moves we are making in the high-end of our portfolio give us a clear path for growth, whether that is in beer or Beyond Beer,' he said. 'The momentum of our core brands, and the space gains we expect at retail this year, also give us a clear path for growth. And the ways we have enhanced our whole organization give us a clear path for growth as well.
Our proven approach and the results to date give us an immense amount of confidence in
This article contains forward-looking statements within the meaning of the
(C) 2024 Electronic News Publishing, source