The data that we've looked at from a hard seltzer point of view, shows that it provided an entry point into flavor for consumers. And once they discovered flavor, they started to experiment and trade into FABs and RTDs and so on.

The total flavor segment seltzers, FABs and RTDs was about 5% of the category. That number has tripled to about 13% now. It's a $9 billion business.

We are also seeing a shift into larger packs among consumers with higher household income levels. This, combined with channel shifting behavior among these same consumers, suggest an increased focus on finding the best value even if it requires shopping at multiple stores.Source

In February, I mentioned we have seen a price-sensitive subset of consumers shifting to smaller pack sizes, in particular to single serves.Source

We're reaching more consumers and more consumer occasions than what we have done.Source

Innovation is going to continue to be an important part of what we do.Source

It's also important to note that the high-end, which is the only place where we compete in beer, continues to see an increase in buy rate. So that, again, speaks to the fact that the consumer continues to premiumize and we're in the perfect position to take advantage of that particular point.Source

Similarly, our Corona Non-Alcoholic had a great start. It was the number one share gainer in the non-alcoholic segment and I think that does reflect some change in consumer behavior or people that are concerned about being the designated driver, but still want to enjoy an outstanding tasting beer.Source

I think FMBs is probably coming from -- mostly from hard seltzers or maybe craft as well.

David Burwick: Yes. I think, I mean, if you look at the spring resets and then the fall resets, I mean, the hard seltzers are the net contributor to shelf space pretty much across the board.

I think people will try because clearly, there's interest in this space.Source

David Burwick: Right now, it's finished the year in 11 states. We expect it to be maybe 25 to 30 this year.Source

For example, in France, we activated additional promotional activity across our large PET zero range of Coke, Fanta and Fuze Tea over the summer months.

Our consumer-centric approach remains focused on maintaining affordability and relevance for all consumers.

What's interesting despite some of the consumer challenges, there's still a large cohort of consumers across all of our markets to value premiumization.

So when you look kind of beyond 2023, I think our resource allocation will be continue to invest in our sparkling portfolio, particularly to sugar free, continue to drive the Energy category with Monster, take more share in the Tea category in Europe with Fuze and then selectively roll out our ARTD portfolio across Europe.

Martin Roper: We're trying to increase occasions and increase our appeal across demographic groups.Source

Mike Kirban: Yes, I think the focus for this year is expanding C-store. We think that that's obviously the biggest channel for this item.Source

I think it's been quite beneficial in driving the awareness around this specific usage occasion of cocktails mixed with coconut -- using coconut water as a mixer and we think it's actually adding a lot of benefits.

the marketing cover that we're getting from them is so significant and we think it's been quite beneficial in driving the awareness around this specific usage occasion of cocktails mixed with coconut -- using coconut water as a mixer and we think it's actually adding a lot of benefits.

Crown Royal, Bulleit, Johnnie Walker, Buchanan's, malls -- where if you remember, we've always underperformed in malls. I'm really happy to see mall performance now come come through strongly.

So why don't I take the U.S. and Lavanya, you can [indiscernible]. The U.S., we're playing a total portfolio game, right? We are very happy with the quality of our portfolio.

Our focus would be to be where the consumer is with the interest -- with whatever the consumer is most interested in.

I mean, these categories don't -- it's not like people are drinking so much more, but you're getting that growth of tequila is the shift happening from one part of spirits to another.

We look across our entire portfolio, we have the ability to shift across formats, mix, channels, price pack architecture on both the refreshment beverage side and the cold beverage side.Source

With regard to GLP-1, we've had the opportunity to look at every trend possible from a consumer perspective for opportunities and risk.Source

Our performance was led by solid growth in CSDs and our expansion in energy and sports hydration, partially offset by softer trends in certain still beverage categories.Source

In international, we introduced Schweppes mocktails as the first can mocktail product in Mexico, securing distribution with several large customers and generating very strong initial consumer acceptance.Source

Affordability and premiumization are key levers to maintain and expand our consumer base, and we continue to balance affordable offerings with compelling premium propositions to ensure we have beverage options across income levels.Source

In North America, we've expanded our Simply premium juice brand into the mix of segment with Simply mixology in 3 flavors to serve as a cocktail or mocktail.Source

We're keeping our streamlined portfolio of brands relevant with consumers and finding innovative ways to offer beverage choices for every occasion.Source

We're expanding our exploration in alcohol ready-to-drink beverages with a keen focus on responsibility.Source

We've studied that 18 ways till Sunday and have never been able to find a state where we saw reduced alcohol consumption based on it going legal and it's tough to do now because so many places are legal.

Now over the next decade or two, do I want to look at that and understand that better? It is -- it could be a headwind, yes, but particularly on a healthier Gen Z kind of conversation.

Jack Daniel's RTDs grew organic net sales 10% and New Mix delivered 41% organic net sales growth.Source

RTDs remain the third largest contributor to overall company growth, driven by the consumer trends of convenience and flavor.Source

Jack Daniel's RTDs grew organic net sales 10% and New Mix delivered 41% organic net sales growth.

RTDs remain the third largest contributor to overall company growth, driven by the consumer trends of convenience and flavor.