The most popular American beers are suddenly on clearance
Booze executives are "lamenting about the heightened level of promotional intensity in the marketplace" as craft beers take over, according to a recent report by RBC Capital Markets.
The beers you're most likely to see on sale are American classics like Bud Light, Budweiser, and Shock Top, according to the report.
Many Americans are choosing flavorful craft beers and think that the classics taste bland in comparison.
Budweiser is quickly losing its status as the most iconic beer brand in America.A recent company study found that 44% of drinkers aged 21 to 27 have never tried the brand, reports Tripp Mickle at The Wall Street Journal.
Budweiser is the third-most-popular beer brand in America, behind Bud Light and Coors Light. It has recently also been challenged by craft beer, which is hugely popular with the millennial set.
At the brand's peak in 1988, it was selling 50 million barrels of beer a year. That number has declined to 16 million barrels.
To "stop the free fall," the company has decided to double down and advertise only to millennials, The Journal reports.
Craft beer's wholesome image has helped contribute to its popularity with young drinkers. As a result, Budweiser revealed it uses only six ingredients.
Budweiser also designed a can shaped like a bow-tie to attract millennials.
The design was intended to appeal to trend-seekers and "young adults who haven't yet tried a Budweiser," the St. Louis Post-Dispatch's Lisa Brown wrote.