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)
The U.S. economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and frustrating price levels.
Alan Becker, CEO and Investment Adviser Representative at Retirement Solutions Group and RSG Investments, shares his thoughts on the latest GDP data plus why he's not sold cryptocurrency as a long-term asset.
The Biden administration wants to ban another type of bank “junk fee," targeting fees that are typically charged by banks when a transaction is declined in real time.
Al Root, senior writer at Barron’s, breaks down everything expected from Tesla’s earnings report, from Elon Musk’s demands from the board to why the market has been looking for affordable EV options.
Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce. The announcement follows similar moves by other tech companies that ramped up hiring during the pandemic while people spent more time and money online.
Tony Drake, CFP at Drake and Associates, LLC shares thoughts on whether the record gains in technology will broaden to other sectors, the risks of the Fed keeping interest rates higher for too long, and the health of the U.S. consumer.
The Federal Trade Commission ruled that Intuit engaged in deceptive practices by running ads claiming consumers could file their taxes for free using TurboTax — when many taxpayers did not qualify for such free offerings.
