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It’s Modelo Time Foo
Kieran Ryan
July 14, 2024
Good morning, Nerders. It’s Monday, July 15th. In today’s newsletter, we cover:
How Modelo, a Mexican beer, became the U.S.’s top-selling beer
What types of debt do Americans have the most of
Hollywood’s fight against the $71 billion piracy industry
TODAY’S STORY
One thing I noticed this 4th of July: Mexican beers have taken over American ice coolers.
Modelo Especial dethroned AB InBev-owned Bud Light as the U.S.’s top-selling beer last year. The Mexican beer had been gaining market share in the U.S. beer market for years, but the Bud Light boycott accelerated Modelo’s rise and put them over the top.
Analysts say Modelo’s rise to #1 was inevitable.
Modelo’s popularity reflects the growing cultural influence of Latino consumers in the U.S., even beyond Hispanic communities. From 2015 to 2022, the ratio of Modelo Especial drinkers has shifted from 80% Hispanic and 20% “general market” to close to 50-50.
While the brand has won over the “general market,” Modelo’s core Hispanic customers are still of the utmost importance to them. Vox reported that 3 points of Modelo’s revenue algorithm just came from the growth of the Hispanic population in the U.S.
As the country’s Hispanic population continues to grow, surpassing 65 million people in the U.S. as of 2022, so does Modelo’s influence over the “general market” and total sales.
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DATA BYTES
The primary source of debt is credit cards, which account for more than double the #2 source (car loans) and more than triple the #3 source (education)
The average debt, exclusive of mortgages, is $22,713
The average credit card interest rate in America today is 24.80%, the highest it has been since 2019
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PREVIOUS STORIES
Non-Obvious Winners from the Ozempic Craze — Analysts predict Ozempic and other weight loss drugs will have ripples across many industries.
What’s Next for Streaming Services? 📺 — After years of chasing revenue and subscriber growth, streaming services plan to increase prices and demonstrate to investors they can turn a profit.
Gold’s Stealthy Bull Market — Following central bank activity, retail investors are driving up gold prices.
The False Promise of Thrift Companies — Thrifting is booming, but companies specializing in secondhand apparel are struggling to grow alongside the overall market.
Nearly 1 out of 12 Auto Loans is now Delinquent — Americans are falling behind on monthly auto loan payments due to higher car prices and inflated interest rates.
To read the web version of previous stories, click here
If you have any comments or feedback, just respond to this email.
Thanks for reading,
Kieran & Justin Ryan
