MillerCoors Looking to Tap into Nostalgia Business and Wellness Trends
*By Christian Smith*
You may find yourself wondering what ice-cold beer to order at your next happy hour, but MillerCoors is already planning its new brews for 2021.
"We're always years in advance," said the company's Senior Manager of Innovations, Jason Pratt, in an interview on Cheddar Wednesday.
While Pratt wouldn't go into specifics, he did say that the company is eyeing potential opportunity outside of the traditional beer space. MillerCoors recently partnered with artisanal tea company Clearly Kombucha.
"We're really excited about that and what possibilities that might open up for us," Pratt said. "Beer can be so many different things, and I think that's what makes it exciting."
When it comes to the beers that people are throwing back right now, Pratt says IPAs and "easier-to-drink beers" like American lagers and pilsners are leading sales growth.
The rise in popularity of those beers versus others has led to a rapid increase in American producers. In the past five years the number of breweries in the U.S. rose from less than 2,500 to more than 6,300, according to the [Brewer's Association.](https://www.brewersassociation.org/statistics/number-of-breweries/) That competition, in Pratt's opinion, is great for the beer industry.
"We honestly welcome the competition," Pratt said. "It's great to see because it means the industry is getting healthy, and people are really starting to appreciate beer."
For the full segment, [click here.](https://cheddar.com/videos/how-millercoors-decides-what-new-beer-to-brew-next)
Dana D’Auria, co-CIO at Envestnet, breaks down how she’s expecting markets to perform as ‘cracks’ from the rate hike cycle slowly filter into the economy.
A large cargo ship lost power and issued a mayday call moments before it struck the Francis Scott Key Bridge early Tuesday, though it was still moving toward the span at a rapid speed.
Candace Mitchell Harris discusses her path from computer scientist to founder of beauty tech tool MYAVANA – and how it uses A.I. to analyze each person’s unique haircare needs.
Michael Harris, NYSE global head of capital markets shares what to expect from IPOs in 2024, including A.I. excitement and why interest rate cuts are always helpful.
Lacy Garcia, Founder & CEO of Willow, shares why women, traditionally underserved by fintech, are looking for trust and a personal relationship from their financial advisor.
Alexander Reed, CFA and CIO for Envisage Wealth, breaks down why he thinks rates could stay higher for longer and why real estate, utilities, and regional banks are sectors to avoid.
Big brands that have relied on TikTok videos to reach younger consumers do not appear to be panicking as they wait to see what happens. But they have started planning.
It's been 15 years since the last fatal crash of a U.S. airliner, but you wouldn't know that from a torrent of flight problems that made news in the last three months.
Abortion opponents want the high court to ratify a ruling from a conservative federal appeals court that would limit access to a medication called mifepristone, which was used in nearly two-thirds of abortions last year.
