MillerCoors launching fruit-flavored cheap beer aimed at millennials

(FOX NEWS) - Appealing to a younger generation of drinkers, MillerCoors just launched a fruit-flavored beer aimed at millennials.

A study last year found that people in their 20s are increasingly turning down beer and reaching for wine and spirits, instead. But MillerCoors new Two Hats light beer is hoping to hook the younger generation with something cheap and fun.

"The goal is to enlist this generation of legal-age drinkers to beer from other offerings," according to a MillerCoors blog post. "Some 40 percent of beer's volume losses are occurring among drinkers aged 21 to 24."

The company developed this new product "to bring something to these drinkers that's relevant to them, that speaks to them and is at a price point that makes sense for them," Sofia Colucci senior director of innovation at MillerCoors, said in a statement.

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