Monster Energy’s market share fell from 45% to 41%, The Wall Street Journal reports.
Monster, an energy drink company known for its sexual harassment problem and its boys-club marketing, is up against several new competitors — and many people seem more interested in wellness than “Monster Girls” at NASCAR races.
Monster’s macho buzz is wearing off
In 2016, Red Bull more than doubled Monster’s sales. But a lower price point and aggressive marketing helped Monster claw its way to the top of the market, beating out Red Bull with 43% market share.
But, thanks to new competitors and shifting consumer preferences, Monster’s grip on the market is slipping.
Monster marketed its drinks with extreme motorsports, scantily clad women, and video games, amassing a loyal following among Xbox-playing teenage boys — but the company may have limited its audience.
Now, everyone’s into energy
As it turns out, Call of Duty fans aren’t the only people who want a caffeine kick. In fact, market research shows that many caffeine consumers are looking for health and wellness options.
Several companies have already doubled down on wellness-focused energy drinks: AB-InBev bought HiBall, Amazon launched its own Monster competitor, and fitness-focused Bang is growing rapidly. Keurig Dr Pepper will soon launch a new competitor called Adrenaline Shoc.
Even Coca-Cola, which owns an 18.5% stake in Monster and distributes the brand, is trying to kill the creature under the bed: Coke launched a product called “Coca-Cola Energy” in Europe.