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As one of the largest weeks for beer sales, approaches, beer manufacturers are seeing increasing competition when it comes to consumers’ dollars. In this Q&A with Beverage Industry Magazine, Kristine Joji, EVP of strategy consulting at Insite AI, explores market trends and predictive pricing strategies for beer brands to successfully position themselves during some of the largest beer sales weeks of the year.
Q&A Highlights:
- American consumers spent $15.8 billion for the Fourth of July in 2023, with $9.5 billion on food and $4.02 billion on alcohol.
- Market trends show consumers are tightening spending due to inflation, impacting their purchasing decisions for Fourth of July celebrations.
- There is a growing trend towards health-conscious and sober-curious beverage choices, including low-calorie beers, hop water, and hard kombucha.
- Beer brands need to consider optimal pack sizes, hyper-localize assortments, and utilize predictive pricing to maximize ROI and cater to cash-strapped consumers.
- Strategies for smaller beer brands focus on new user acquisition and brand differentiation, while national brands aim to maintain current customers and drive additional sales.
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