Tired of drinking the same kind of beer night after night, week after week? Molson Coors Brewing Co. understands your pain and is expanding its product line to include a new iced tea flavoured concoction that’s set to hit shelves in Canada next month.
The company confirmed the launch of Coors Light Iced T and hasn’t ruled out expanding the product line to the US in the near future.
So what is Coors Light Iced T – and will it be a hit with consumers?
Statistics show that more and more people are shying away from beer and opting for lighter, fresher cocktails like wine and coolers. The new, citrus-flavoured drink will contain about 4% alcohol and will be caffeine free – a big appeal for drinkers who love traditional iced tea but are looking to cut down on their caffeine intake.
Coors hopes that their new product will help spur sales and relieve the stress they’re currently facing due to low profits.
“Someone else is eating our lunch in the alcohol space,” Molson Coors Chief Executive Peter Swinburn said in a meeting Tuesday after announcing the launch of their new product.
According to Reuters, Molson shares were down $1.19, or 2.7 percent, at $42.16 on the New York Stock Exchange in late trading.
Do you think Coors Light Iced T beer will be a hit with consumers?