Is big beer's comeback bid all about boosting drinkers' buzz?
That appears to be part of the playbook for MillerCoors and Anheuser-Busch InBev, which have turned to pricier, higher-alcohol line extensions to recapture share from growing liquor brands. The latest entry: Miller Fortune, which will debut next year at 6.9% alcohol by volume with a marketing strategy aimed at luring millennial males during nighttime drinking occasions.
The brew, in the works for months, follows A-B InBev's recent launches of Bud Light Platinum and Budweiser Black Crown, which both check in at 6% ABV, compared with 4.2% for most light beers. The goal for brewers is to reach variety-seeking drinkers whose habits lead them to the liquor shelf and away from beers their fathers drank. Fortune will be priced similarly to Platinum, whose average case price is $26.17, compared with $20.11 for regular Bud Light, according to IRI. While higher-alcohol brands are growing in popularity, light beers still command much larger shares. Bud Light has 20% of the market, compared with 1.15% for Platinum, according to IRI, which excludes bar and restaurant sales.