On the heels of another successful 420 Fest held recently at Pullman Yards in Kirkwood, SweetWater Brewing Co. and its parent company, Tilray Brands, appear to be doing very well at a time when many other breweries are faltering.
Tilray recently moved up from sixth place to fourth in the Brewers Association ranking of the top 50 craft breweries in the U.S.
Despite that, Tilray Chief Marketing Officer Prinz Pinakatt said, the market for beer, in general, is in a slight decline.
There are a number of factors at play, Pinakatt said. “There are more health-conscious consumers. There are challenges on disposable income. And between inflation, cost of living and uncertainty, we see a contraction.”
Overall, he said, sales have declined 2% or 3% for the entire beer category, including craft beer and common domestic beer. “That’s a challenging environment.”
Currently, specialty craft beers such as SweetWater are faring better than the industry as a whole.
“That’s good,” Pinakatt said. “But craft as a whole is in a decline of 5% in sales and profits. What’s working in our favor is that nonalcoholic beers are seeing explosive growth, and we have offerings in that space. On the other side, there are craft light lagers that are doing well, too.”
Credit: Handout
Credit: Handout
SweetWater’s Dive Beer is a recent offering touted as a clean, crisp, no-frills lager that’s just 4% alcohol by volume. A six-pack sells for $7.99 and a 12-pack is $12.99.
SweetWater also has introduced a few innovations aimed at younger drinkers who enjoy beverages made with THC, the main chemical component of marijuana.
“We call them flavored malt beverages with taste and a higher ABV of 9.5%,” Pinakatt said. “With Tilray being one of the largest cannabis companies in the world, we have the credibility and expertise.”
Credit: Handout
Credit: Handout
SweetWater Senior Brand Manager Evan Woolard said 420 Fest was the perfect event to introduce Dive Beer to young consumers. “It’s so crowded when you’re in the grocery isle, and it’s hard to get somebody’s attention.”
But at 420 Fest, he said, “we not only have their attention, we connect with them on a level beyond beer. Music, the environment, other things that relate to them — that’s not only how we get their attention back in the store, but it’s how we build something long-term with them.
“I think that’s why 420 Fest has been so important to this brand,” Woolard said. “It not only showcases who we are, and what we stand for, but we create memories, and it’s fun.
“For us, this is our hometown, too,” he said. And at 420 Fest, “our friends from Day 1 are coming back with their kids, and their grandkids, joining that community. It’s a brand that has been there.”
SweetWater Brewing Co. 195 Ottley Drive NE, Atlanta. 678-679-1622, sweetwaterbrewtaproom.com
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