Summer’s coming, and nothing quenches your thirst on a hot day like a tall glass of iced tea…unless maybe it’s an ice-cold mug of beer, right?
Well, the people at Molson Coors Brewing want to bring you the best of both in one can. Get ready for Coors Light IcedT. The beverage is a standard Coors Light blended with citrus and iced-tea flavors, with an alcohol level of 4 percent.
"We've got the world's most refreshing alcoholic beer sort of meeting up with the most refreshing non-alcoholic drink in the world. Those two things go really well together," said Peter Swinburn, Coors chief executive.
The new product is seen as part of a broader plan to win back customers who are drinking wine, cocktails, and flavored liquors like citrus vodkas and vanilla rums.
"Someone else is eating our lunch in the alcohol space,” said Swinburn. Beer sales in the U.S. have declined three years in a row, while liquor companies have reached a new audience with creations like Smirnoff Fluffed Marshmallow Flavored Vodka and Southern Comfort Fiery Pepper.
Craft beers have also been cutting into the sales of the major brewers of late. Sales of small batch brews were up about 15 percent in the first six months of 2011.
Beer purists are likely to call Coors IcedT an "absurdi-tea," says Rick Aristotle Munarriz of The Motley Fool. But it's at least an "intriguing" move, since "specialty flavored brews are booming in popularity." But the "beer industry's track record has been mixed when it comes to flavored beers--Zima being one prime example.
Coors Light IcedT will be hitting store shelves next month…and it’s not an April Fool’s joke. At least the folks at Molson Coors hope it’s not.