00:21:47 EDT Thu 16 May 2024
Enter Symbol
or Name
USA
CA



Molson Coors Canada Inc
Symbol TPX
Shares Issued 9,462,866
Close 2023-10-26 C$ 80.25
Market Cap C$ 759,394,997
Recent Sedar Documents

Globe/CP say Molson's Roxie for the "sober curious"

2023-10-27 07:53 ET - In the News

The Globe and Mail reports in its Friday edition that surveys in Canada and the U.S. show consumers are increasingly cutting back on booze. A Canadian Press dispatch to The Globe reports that major alcohol brands are making moves with sober versions of well-known products like Guinness and Tanqueray gin. Experts say it is a sign there is room for growth in the industry. Mintel food and drink analyst Joel Gregoire says, "If I was running an alcoholic beverage company this is not a space that I would ignore." Mr. Gregoire says research shows about 15 per cent of Canadians 20 and older do not drink at all. He adds that another, likely much larger group of consumers that are not cutting out alcohol entirely, but cutting back -- known as the "sober curious." He says, "When you're trying to grow your brand with younger consumers, who are the ones who are generally most open to innovation, that's where there's a lot of opportunity." CP notes that companies have launched non-alcoholic drinks that do not directly mimic their signature products, such as Roxie canned non-alcoholic cocktails from Molson Coors and Martini & Rossi non-alcoholic aperitifs. It takes money and time to develop a good non-alcoholic drink.

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