Anheuser-Busch is turning to more expenisve, premium beers as Bud Light and Budweiser lose market share.
Revenue of the beer giant's premium segment, which includes brands such as Shock Top and Goose Island, grew 18.3% in 2018.
The beer giant's"premiumization" strategy proved a bright point in the company's earnings report on Thursday, with revenue of the premium High End Company growing 18.3% in 2018. AB InBev said on Thursday that it expects the premium segment to grow about five times faster than core and value brands in the coming years.
"So, although we do have some flagship iconic brands in the market like Budweiser and Bud Light, can't we elevate those propositions?" Marcondes continued."Let's give it a try, let's talk to consumers and let's understand their needs and let's make those propositions even more premium and sophisticated.
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