With early retirement out of reach for most, Coors Light is instead looking to facilitate “temporary retirement” with its latest contest.
The brand is giving out four prizes of $10,000 to entrants who submit a description of how they would spend their “temporary retirement.” A new campaign promoting the contest features young people at a retirement community enjoying all the hallmarks of post-working life alongside its residents, including sipping beer poolside, bocce and early bird specials.
The contest is based on the brand’s own research, which showed that 69% of Canadians would retire now and go globe-trotting, if they could finance it.
As the beer that’s positioned around being “Made to Chill,” Coors Light exists to refresh the spirit and believes everybody deserves a moment of relaxation, according to Leslie Malcolm, senior brand director for Coors Light at Molson Coors.
For the campaign, she says the beer brand is looking to target younger Millennials and older Gen Zs of legal drinking age, knowing that the audience segment is feeling the generational shift in what retirement will look like as they get older, which can be an overwhelming feeling.
“This is leading younger generations to get resourceful with trends like ‘soft saving’ so they can live their best life now,” she explains. “That’s why Coors Light is inviting Canadians to live the glory of their golden years while they’re still young.”
Malcolm tells strategy that retirement is feeling more like a fantasy for that segment, with 76% expecting to work longer than their parents to retire comfortably, according to a recent survey from Edward Jones Canada.
“We carefully selected a monetary prize amount that ensures the winners will not have to choose between placing the money in an RRSP for actual retirement and enjoying their best life this summer by crafting their own adventure,” Malcolm says. “It was important to us to provide a prize and experience for Canadians that truly embodies the spirit and mindset of temporary retirement.”
According to Malcolm, Coors Light has focused on putting a big push behind its campaign, with 60% of its total summer media spending supporting this message across TV, online video, digital, audio, social, OOH and cinema. Coors Light is also leveraging influencer partnerships to bring the message to social media audiences, reaching legal drinking age Instagram users.
The retail component of the campaign, meanwhile, leans heavily into the occasions that can connect Coors Light drinkers with the “Temporary Retirement” mindset, from activities like golf to backyard chill.
Droga5 handled the creative. Wavemaker will be supporting the campaign with paid media, and Citizen is leading PR.