Americans Have Almost Depleted Excess Savings, SF Fed Study Says | The new king of beers is a Mexican-American success story | Chick-fil-A launches first-ever twist on its classic chicken sandwich

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Don't like ads? Go ad-free with TradeBriefs Premium Americans Have Almost Depleted Excess Savings, SF Fed Study Says - Bloomberg    Excess savings US households built up during the pandemic will probably be exhausted in the current quarter, according to research from the Federal Reserve Bank of San Francisco, removing a key support for consumer spending that has boosted the US economy this year. "Our updated estimates suggest that households held less than $190 billion of aggregate excess savings by June," San Francisco Fed researchers Hamza Abdelrahman and Luiz Oliveira said in a blog post published Wednesday on the bank's website. "There is considerable uncertainty in the outlook, but we estimate that these excess savings are likely to be depleted during the third quarter of 2023." Continued here You Might Like � � � � � � � � � The new king of beers is a Mexican-American success story - The Economist    The king is dead. ¡Viva el rey! That is the cheer ringing through drinking dens this summer as Bud Light, America’s self-styled “king of beers” for 22 years, is dethroned by Modelo Especial, a Mexican brew. Spare a thought for the vanquished. Rarely has an effort to rejuvenate a brand gone as spectacularly wrong as when Bud Light’s marketers entered into a liaison with a transgender social-media star, only to fall victim to America’s culture wars. On the bright side, it offers a chance to examine a little-known success story. Constellation Brands, an American firm that went into brewing only a decade ago, offers a lesson in how to wage an old-fashioned corporate insurrection, Mexican-American style. Schumpeter should declare an interest. Having lived for many years in Mexico, parts of his life have been spent accompanied by one Mexican brew or another. Modelo Especial was rarely one of them. South of the border, it doesn’t have huge cachet. Yet in America the same beer, with the same taste, has overtaken even Corona Extra, its better-known sister brand. That is because, in straightforward business terms, Constellation got everything right, from manufacturing to distribution to retailing. Most of all, it grasped the growing power of the Latino consumer. The Modelo Especial story starts with antitrust. Not the newfangled sort in which size itself is considered taboo, but the old-school idea that buying a competitor can lead to higher prices. It dates back to 2013, when AB InBev, the Belgium-based owner of Budweiser, paid $20bn to take control of Grupo Modelo, Mexico’s largest brewer, whose brands such as Corona and Modelo Especial were rivals to Bud Light north of the border. America’s Justice Department intervened. It determined that, in order to maintain competition, AB InBev should divest Modelo’s entire US business to Constellation, which was then a relatively little-known wine and spirits seller worth $8.1bn. (AB InBev kept the Grupo Modelo business in Mexico and the rest of the world.) Today Constellation is worth $45bn and is one of the most respected consumer-goods companies in America. Continued here Chick-fil-A launches first-ever twist on its classic chicken sandwich - Business Insider    The fast food chain is adding a seasonal chicken sandwich to its menu that blends sweet, savory, and spicy notes. The Honey Pepper Pimento Chicken Sandwich, available in restaurants August 28, takes a hand-breaded chicken filet and pairs it with a pimento cheese spread, pickled jalapeños, and a bun drizzled with honey. The new sandwich ramps up Chick-fil-A's original chicken sandwich recipe, one that the fast food chain hasn't experimented with since it was created in 1964, until now. Last year, the chain served about 527 million chicken sandwiches, according to data from QSR Magazine. "We wanted to create a standout sandwich that would deliver a unique spin for our guests, without losing the classic taste of the Original Chick-fil-A Chicken Sandwich," Stuart Tracy, Chick-fil-A Chef and creator behind the Honey Pepper Pimento Chicken Sandwich, said in a statement. Continued here

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