U.S. beer, full malt beverages (FMB), and cider volumes fell 6.3% year-over-year for the two- and four-week periods ending May 2, 2026, according to Nielsen-tracked data.
The decline is worse than the 3% drop observed between November and mid-April.
Convenience Channel Under Pressure
The convenience channel—including retailers like 7-Eleven, Wawa, Shell, and Exxon—saw volumes decrease approximately 9% year-over-year in the two weeks since April 26.
Seasonal and Economic Factors
Bernstein analyst Nadine Sarwat noted that Easter occurring earlier in 2026 than in 2025 may have contributed to some volatility. However, the broader slowdown could indicate pressure on U.S. consumer spending.
"We find a negative correlation between the absolute price of gas in a given state today and the sequential change in beer/FMB/volume growth." — Bernstein analyst Nadine Sarwat
U.S. average gas prices were approximately $4.51 per gallon, according to AAA. Analysts suggest a negative correlation between gas prices and beer/FMB volume growth, particularly in higher-cost fuel markets.