(Leesburg, VA) – According to GuestMetrics, while still small, Corona Light draft has been showing some early signs of success in on-premise, consistent with the commentary provided by Constellation in recently.
“Corona Light draft is showing some encouraging signs of momentum thus far in its roll-out,” said Bill Pecoriello, CEO of GuestMetrics LLC. “Based on our POS data, the portion of restaurants and bars in the United States carrying Corona Light on tap has increased from about 0.5% in 2012 to 1.4% in 1Q13, and was 3.1% during the most recent quarter. We believe Constellation’s strategy of rolling out Corona Light draft is a logical one, given the relative out-performance of draft vs. bottle in on-premise thus far in 2013. While draft currently accounts for about 45% of all beers sold in on-premise, it is taking share from bottles, up about 1-share point this year already. In contrast to this, our data indicates the Corona brand family has about 1.5% of its on-premise sales in draft form, so the company is wise to try to increase its exposure to draft, particularly given the out-performance of draft relative to bottles in on-premise.”
“We also looked at any potential cannibalization taking place between Corona Light draft and Corona Light bottle, and it appears to be at an acceptable rate,” said Peter Reidhead, VP of Strategy and Insights at GuestMetrics.
“Comparing the year-over-year gain in category share experienced by Corona Light draft versus the slight loss in share experienced by Corona Light bottle, the share gain outweighs the share loss by a factor of three. The net result of this is that Corona Light’s overall share of the beer category reached a multi-year high in 2Q13 at about 0.85%. While that is still a small portion of total sales, given the strength that overall draft will likely continue to display relative to bottles in the coming quarters, and the fact Corona Light draft is still only carried in about 3% of restaurants and bars, there likely is still a good amount of room for growth in Corona Light draft.”