Drinkers Shifting To Higher-End Beers at Home

https://www.fooddive.com/news/beer-drinkers-clinging-to-higher-priced-brews-as-inflation-rages-molson-co/624431/
Gavin Hattersley, CEO of the alcohol giant behind Coors Pure Organic Light Beer and Blue Moon, said in many cases people are choosing to forgo a night out and instead purchase a higher-end brew to enjoy at home. “We haven’t seen [a shift down to lower-price beers] yet,” Hattersley said in an interview after addressing a Chicago business executive group in late May. “It wouldn’t surprise me if it happens as inflation, gas prices and things start doing really bad. But we haven’t seen it.”
The strength in beer is a much-needed reprieve for many of the category’s iconic brands. For several years, Miller Lite, Coors Light, Bud Light and similar offerings struggled as consumers turned to spirits, wine, craft beers, Mexican imports, low- or no-alcohol brews and ready-to-drink products such as hard seltzer — or chose to skip drinking altogether.
“Part of it is that consumers are seeing 8% inflation, the prices of other things have gone up dramatically more,” Hattersley said. Beer, the executive said, is still viewed by many as a bargain.