Oct 9, 2019

White Claw may have actually outsold Budweiser this summer

A September article from The Daily Beast trumpeted the claim that White Claw hard seltzer had managed to outsell Budweiser in July.

Surprise: That may be true, Bart Watson, chief economist of the Brewers Association, told Axios at the National Association for Business Economics conference on Tuesday.

What Watson said: "Yes, there are particular points where White Claw looks like it outsold Budweiser, the specific brand. ... White Claw had a very huge summer."

  • "Hard seltzers in general were taking 4 to 5% share of the market by volume, 5 to 6% share in dollar sales at various points this summer."

Yes, but: When looking at the specific Budweiser brand, White Claw may have outsold it, but "only in very specific weeks," Watson said.

  • "We don't have a ton of data. Hard seltzers are new, they're emerging. They appear to have very strong seasonality, so late summer they really seem to have peaked and I think were taking some share from particularly light beers and other kind of macro lagers."
  • "But Budweiser is probably the 3rd biggest brand in Anheuser-Busch's portfolio."

Go deeper: The hard seltzer gamble

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OZY Media raises $35 million

Carlos Watson interviewing Malcolm Gladwell at OZY Fest. Photo courtesy of OZY Media.

OZY Media, a media and entertainment company led by Carlos Watson, said Friday that it's raised $35 million in new venture capital funding.

The bottom line: OZY originally launched as a digital magazine for the "change generation," but has moved its focus toward TV production, podcasts, and live events.

Go deeperArrowNov 1, 2019

A perfect economy, but far from a perfect earnings season

Powell attends an event at the Federal Reserve on October 4, 2019. Photo: Win McNamee/Getty Images

We're in a Goldilocks economy, if you believe Fed chair Jay Powell. He gave a speech on Tuesday to the National Association for Business Economics in which he reminded the attendees just how special the current economic situation is.

"We don’t get to see the 11th year of an expansion a lot, and there’s a lot to like about it, particularly for people at the lower end of the wage scale who are getting now the highest raises. And it’d be great to continue."
— Jay Powell
Go deeperArrowOct 10, 2019

The growing consumer confidence gap

Data: The Conference Board; ; Chart: Axios Visuals

The Conference Board’s consumer confidence index dipped slightly in October, but showed a notable decline in the survey's future expectations component and a growing divergence between respondents' views of their current situation and their expectations for the future.

By the numbers: Expectations fell 0.9 points during the month and have dropped by 17.5 points from their 2019 peak in July, Pantheon Macroeconomics chief economist Ian Shepherdson says in a note.

Go deeperArrowOct 30, 2019