Absolut is expanding both its ready-to-drink and ready-to-serve cocktail lines today, announcing several new flavor additions, including an expansion of its co-branded partnership with cranberry giant Ocean Spray.
The Pernod Ricard-owned vodka brand will introduce Espresso Martini, made with real espresso and Kahlúa rum and coffee liqueur, and Classic Cosmopolitan varieties to its ready-to-serve line, which first debuted around this time last year with inaugural Raspberry Lemonade and Vodka Mojito flavors.
Packaged in 750 ml bottles with a 20% ABV, priced at $16.99 per unit, the two new flavors look to play on trending cocktail flavors, as both the Espresso Martini and Cosmo have seen big upticks in consumer interest in recent years, even as the average price of the former cocktail has experienced sharp inflation on-premise since 2023.
In the canned format, Absolut is also launching Vodka White Cran-Peach and Vodka Cran-Mango to its co-branded Ocean Spray line, which launched last year with four other flavors. The drinks contain 4.5% ABV and come in 12 oz. cans, and will be available in variety 12-packs for $22.99.
Finally, three classic cocktail flavors are joining Absolut’s core canned RTD line: Classic Mule (7% ABV), Classic Cosmo (10% ABV), and Half & Half Tea & Lemonade (7% ABV), all in 12 oz. cans. These RTD innovations are scheduled to roll out in April in select retailers across the country.
“Absolut is committed to delivering convenient, bar-quality cocktails that enhance hosting occasions while keeping the focus on time spent with loved ones,” said Reshma Dhati, Senior Brand Director of Marketing for Absolut, in a press release.
Spirit-based RTD cocktails have been a “bright spot” for the U.S. spirits industry as the category has experienced volume growth across the country, with a forecasted 6% CAGR between 2023 to 2028, according to market research group IWSR. The segment grew 26.5% in dollar sales off-premise in 2024, according to NIQ. This growth has coincided with volume declines in hard seltzers, but has faced competition from simultaneous expansion of hard teas, FABs and long drinks.
Vodka in particular has emerged as the “most preferred” spirit in RTDs across all demographics, however Gen Z appears to be leading a charge for the growth of gin-based RTDs as well.
“RTDs with vodka and tequila bases will continue to dominate due to the growing availability of more sessionable vodka/tequila soda offerings,” IWSR wrote in November. “Vodka overtook tequila as the leading RTD spirit base three years ago, and brands are reinforcing its dominance by leveraging its versatility and approachable flavour profile.”
The report also noted that RTD cocktails have seen a reduced rate of innovation, but that is likely for the best as the rapid influx of new brands and products in 2021 and 2022 created consumer confusion, while a smaller base of identifiable brands has helped to draw more shoppers into the set.
In its FY 2024 earnings results from August 2024, Pernod Ricard reported that net sales of Absolut were down 1% with volumes down 5%, however the brand still made up the largest volume of the conglomerate’s strategic international brands portfolio and had a positive price/mix of 4%.