Whether it’s “420” or “710,” cannabis culture has a long heritage of embracing oblique numerical euphemisms for getting stoned. Now, as the infused beverage category aims to grow its share of the industry, the Cannabis Beverage Association (CBA) and the Cannabis Media Council (CMC) are introducing one more: 820.

• The industry groups have registered 8/20 (August 20) as National Drink Cannabis Day in an effort to boost consumer awareness of THC-infused beverages. With the date coming up this weekend, companies including Kite Soda and Harmony Craft Beverages have planned promotions.
• The holiday is part of an ongoing media campaign by the CMC called “I’m High Right Now,” which is primarily targeted to older consumers to break down preconceived notions around cannabis still lingering from the years of national prohibition. 
• According to market research group BDSA, cannabis beverages now make up around 6% of the edibles subcategory, as of Q1 2023, with about 134 brands producing 863 SKUs (for more on that, see our check-in with the BDSA from earlier this week in the 8/15 newsletter).

Read the full story on BevNET

Columbus, Ohio-based sports drink O2 has dropped “Recovery” in its name and replaced it with “HYDRATION” (mind the capitalization). The move aims to bring consumer awareness to the beverage’s healthier attributes including low ingredient count, less sugar and more electrolytes than some of the category leaders in sports drinks.

• O2 was founded in 2014 positioning itself among CrossFit, fitness-focused consumers looking for a better-for-you sports drink that prioritizes recovery as well as sustainability in its low-waste approach to packaging using recyclable aluminum cans.
• Co-founder Dave Colina said in a statement that there was no change to the flavors or formula with the rebrand but came out of “what our customers have been telling us for years - that we’re more than a recovery drink, and that people want better hydration options for every occasion.”

Listen to Colina on a recent episode of Taste Radio to hear him speak about the rebrand and how the beverage company has evolved in its nearly 10 years.

Beam Suntory reported a 10% rise in net sales for the first half of 2023, driven by ready-to-drink (RTD) brands and the company’s premiumization strategy, but like other global spirits companies are reporting, sales struggled in North America.

• The company has put an emphasis on premium brands over the past five years, which have become the majority of its sales. 
• That strategy has propped up its RTD brands like Jennifer Lopez’s new RTS cocktail and On The Rocks. Sales of RTDs contributed to the company’s growth with double-digit sales figures.
• Sales were flat in North America versus the first half of last year as the business contends with a “slowdown in consumer demand” in the U.S. and category resets post-Covid. 
• Other spirits companies have also blamed flat or negative U.S. sales on post-pandemic normalization and the impact of inflation including Jose Cuervo owner Proximo Spirits and Diageo. 

Read the full story on BevNET

Come this holiday season, you can now impress your fancy friends with champagne-inspired… Fireball Whisky? 

• Fireball Dragnum is a 1.75L sleek glass bottle rolling out this month that tastes nothing like champagne and exactly like the cinnamon-flavored Fireball Whisky. 
• The product has been newly packaged with a distinct Fireball logo, cork-inspired topper, classic wire cage, and crinkled foil wrap to resemble a bottle of champagne.
• The new campaign encourages supersizing the party shot to a magnum, when “bubbly doesn’t cut it.” Priced at $24.99, it’s certainly a new, cheeky take on premiumization trends.
• The product may be aimed at providing an antidote to the class action lawsuit filed against Sazerac earlier this year claiming the company’s malt-based Fireball Cinnamon has misled them because it lacks the whisky base of its parent brand.

The Alkaline Water Co. is heading towards profitability thanks to shrinking losses and solid topline growth, per the company’s FY2023 earnings report, released to the public yesterday. However, securing additional financing to keep operations humming is now the immediate priority, according to CEO and president Frank Chessman. 

• Full-year revenues increase 16% ($63.8 million). Net losses were cut from $39.6 million last fiscal year to $27.4 million. 
• Gross Profit Margin mproved by 111 basis points to 18%, which the company credited to “production processes, better pricing on raw materials, and strategic price increases to clients.”
• The brand’s narrow focus on winning the bulk-size value-added water category appears to be working: Alkaline Water Co. grew dollar volume 19.5% year-over-year across all channels while adding SKUs and expanding to 11,000 new doors. 
• However, cash is an issue. Per the release, the company has extended its current asset-based loan through the fall “as management pursues another revolving financing agreement to continue pursuing the goal of profitable operations.”