Debate over H-1B visas shines spotlight on US tech worker shortages 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
What’s the difference between baking powder and baking soda? It’s subtle, but significant 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Oil Prices Jump as U.S.-Iran Conflict and Strait of Hormuz Tensions Shake Global Markets 
Why have so few atrocities ever been recognised as genocide? 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Can your cat recognise you by scent? New study shows it’s likely 
AstraZeneca Shares Sink After Wainua Trial Misses Key Heart Disease Goal 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
US-Iran Strikes Escalate as Strait of Hormuz Crisis Pushes Oil Prices Higher 
Time to buy local: war fuel price shocks reveal the folly of a long food supply chain 
Amid economic uncertainties, Anheuser-Busch InBev and Molson Coors are capitalizing on a trend favoring affordable beers, overshadowing US craft beer sales and expanding their market share.
While premium craft beers made with higher-quality ingredients have a loyal following, their consumer base is still restricted – and the pandemic has made things trickier for them by reducing in-store sales.
In contrast, budget-friendly beers such as those offered by larger companies are proving increasingly popular among consumers. According to data by NielsenIQ and TD Cowen, these companies posted stronger sales than their niche competitors. This trend could mean continued strong profits for industry giants even as the economy faces headwinds.
Analysts predict that in 2023 alone, Molson Coors and AB InBev revenue will grow by roughly 6% and 7.5%, respectively. Meanwhile, Boston Beer Co– one of the largest craft beer brands– is expected to post a near 3% fall in revenue compared with last year's 1.6% increase.
Overall, U.S. beer sales grew 1.8% in the 12 weeks ended May 20, data show. Molson's craft brand, Blue Moon, saw a decrease of 8.6% in sales growth over the same period, whereas AB InBev's market share in dollar terms rose to 40.4% in the first four months of 2023 in overall U.S. beer sales, up from 38.3% at the same time last year.
So, this year beer drinkers are drinking smarter – and more affordably. Craft beer makers would do well to adapt if they want to appeal to people looking for a good brew for less.
Meanwhile, FIFA has renewed its partnership with AB InBev as the official beer sponsor of both the 2023 Women's World Cup and the 2026 men's edition!
While beer was a subject of controversy during the 2022 World Cup in Qatar, cheering and celebrating over a cold one is part of the experience for billions of football fans around the globe.
AB InBev promises to bring a party like never before to the biggest stage in football, combining football fandom with their passion for awesome brews.
Photo: Jay Miller/Unsplash
