Energy Shot Sales Are Slumping. Do Energy Shots Still Have a Chance?
Energy drinks are on the way up, but the opposite is true for their smaller, more concentrated brethren.
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Energy drinks are on the way up, but the opposite is true for their smaller, more concentrated brethren. Mintel projected energy shot sales falling for the third straight year last year. Shots now account for 11% of the market, compared to the 89% held by energy drinks.
Why aren't shots doing as well? “Energy shots are lacking the refreshment qualities that carbonated energy drinks provide,” says Elizabeth Sisel, Mintel beverage analyst. “In addition to their functionality, there is enjoyment in drinking energy drinks. This is why good taste is so important to energy drinkers and is something that has been a bit of a challenge for energy shot manufacturers.”
But beverage expert Jim Tonkin of consultant HealthyBrandBuilders is still optimistic. “I still believe that shots have a place in the market, but taste will prevail, and making the shots taste good, healthily, will be imperative.” As a safeguard, he advises brands to offer both drink and shot forms.
The best thing shots have going for them is convenience, he points out. “The small bottles are carried everywhere and are easy to store, carry, and consume. That is their reason for being.” After all, he says, shot maker 5-Hour Energy “can’t be wrong,” with more than $1 billion in sales.
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