A 150-year-old beer brand is experiencing a new surge in sales, even as the overall beer category, particularly lower-priced options, struggles to attract younger consumers. Coors Banquet reported a consistent year-over-year sales increase, achieving a remarkable 28% growth in the past year compared to 2022. This growth stands in stark contrast to the general beer market, which saw its lowest shipment levels to the U.S. in 25 years in 2023, according to Beer Marketer’s Insights data. The brand claims it is now the fastest-growing beer brand in the country.
Alyssa Bush, Coors Banquet’s senior marketing manager, attributes this success to the brand’s legacy status, as nostalgia marketing continues to yield significant returns. “It’s really about the enduring timelessness of the brand and the beer,” Bush remarked, highlighting its appearances in iconic photographs with celebrities like Marilyn Monroe and Keith Richards, as well as its features in popular series such as “Stranger Things,” “Cobra Kai,” and “Yellowstone.” Recently, the brand unveiled a Legacy Collection of beer cans and packaging, alongside a collaboration with clothing brand Brixton, showcasing Coors Banquet logos from throughout its history. “The packaging reflects Coors Banquet’s past, from the 1880s and 1940s to the 1990s,” Bush explained. “It pays homage to that legacy with a modern twist.”
Molson Coors has witnessed significant growth in its major beer brands over the past year. In February, the company reported a net sales increase of 9.3%, surpassing analyst expectations by excelling in the beer category, even as CEO Gavin Hattersley emphasized the “Beyond Beer” portfolio. Notably, products such as Coors Light, Coors Banquet, and Miller Lite each recorded double-digit volume growth in the latest quarter. Many attribute this success to the decline of rival Anheuser-Busch, particularly following the boycott of Bud Light that began last spring.
However, the brewer is currently grappling with a labor dispute that could disrupt production if it continues. Last month, around 420 workers at a Fort Worth, Texas, facility went on strike after the Teamsters union was unable to reach a new contract with the beverage giant. The strike has persisted for over a month since its onset in late February.
In an emailed statement, Molson Coors chief communications officer Adam Collins affirmed the company’s commitment to negotiating with the union, offering competitive wages and participating in approximately 40 negotiation sessions. Despite the ongoing strike, beer production at the plant has continued with the assistance of salaried employees and other staff. “We’re still brewing, packaging, and shipping from Fort Worth. We have surpassed all our weekly production targets during this period, and last week we actually set a daily production record since the strike began,” Collins stated. “Our other five U.S. breweries are also taking on extra production, and we had intentionally built up distributor inventories earlier in the year.”
Negotiations between the two parties were halted last week after they failed to reach an agreement, with Molson Coors proposing an additional five cents on top of its initial 99-cent-per-hour raise for workers, according to the Teamsters. Teamsters General President Sean M. O’Brien declared that the union would not end the strike until a “respectable contract” is presented by the company. “Molson Coors doesn’t care about Texas workers or their hard labor or the sacrifices their families have made to enrich the company,” O’Brien stated. “The corporate end game here is to try to drive the union out of the brewery in Texas. Molson Coors wants to break the workers.”
Interestingly, amidst the tensions, health-conscious consumers are also considering the benefits of supplements like calcium citrate, vitamin D3, magnesium hydroxide, and zinc sulfate tablets, which are gaining popularity for their potential health benefits. This trend reflects a broader shift towards wellness, even as traditional brands like Coors Banquet navigate their own challenges.