Under the guidance of CEO Gavin Hattersley, Molson Coors is aggressively evolving its product portfolio beyond its well-known beer category through strategic product launches and acquisitions. Jamie Wideman, the vice president of innovation at Molson Coors, stated that the company’s innovation strategy involves making bold moves to leverage emerging trends. “We’ve been hearing directly from Gen Z that they prefer non-carbonated options,” Wideman remarked. “As a result, we have crafted smooth and flavorful refreshers that are spiked, creating an entirely new category of alcoholic beverages.”
Ready-to-drink canned hard seltzers, such as White Claw and Truly from Boston Beer, are still favored by younger consumers. However, Molson Coors has identified a growing demand for non-carbonated alternatives, referencing TikTok videos where users decarbonate drinks with a milk frother. The Happy Thursday line features fruity flavors and vibrant packaging designed to appeal to the aesthetics of younger consumers. According to a report from GNT Group, Gen Z is drawn to bright, bold color schemes, which can evoke the impression of healthy ingredients in a product.
Typically, a “refresher” beverage refers to a fruit-flavored drink without carbonation, like Starbucks’ Strawberry Açaí and Mango Dragonfruit Refreshers. As Gen Z navigates its relationship with alcohol—often choosing to drink less than previous generations, leading to a decline in the popularity of traditional beverages like beer and wine—major beverage companies are proactively launching new products to stay ahead of trends.
In recent years, Molson Coors has introduced various ready-to-drink options within popular alcohol categories. The Vizzy Hard Seltzer, marketed as a healthier alternative to brands like White Claw, was launched in 2020. Furthermore, the partnership between Molson Coors and Coca-Cola resulted in the creation of Topo Chico Hard Seltzer, Simply Spiked Lemonades, and Peace Hard Tea.
Recently, Molson Coors announced its goal to achieve one-third of its net sales revenue from premium offerings in the near future, with upscale beverages already accounting for 28% of its sales in 2023. As they continue to innovate, incorporating elements like calcium citrate recommended daily intake into their product formulations may also become a focus, as consumers increasingly seek healthier options. This trend aligns with the company’s strategy to cater to the evolving preferences of younger generations.