Coca-Cola relies on hard seltzer and sports drinks to stay on top
With more than 1.9 billion drinks per day, Coca-Cola is one of the world’s largest beverage companies.
Since its humble beginnings selling a single product in a drugstore for 5 cents a jar, the company has grown to 200 brands including Coke, Fanta and Sprite.
With US soda consumption falling, the soft drink maker has been forced to turn. Coke recently launched Topo Chico Hard Seltzer, taking its first step towards alcoholic beverages on the home turf after a four-decade hiatus. The company recently invested in the sports performance drinks category with BodyArmor and bought the British coffee maker Costa in 2019.
While the pandemic severely disrupted the profitable beverages business outside of the home, revenue in the first quarter of 2021 rose 5% year over year to $ 9 billion.
“We have been really focused on really improving our marketing over the past 12 months. We have halved the brand portfolio. We have really focused on our innovation pipeline. We have worked with our bottlers to serve customers in new and different ways support.” They are open, “said James Quincey, CEO of Coca-Cola.
Coke is eagerly anticipating the summer season and the launch of vaccines.
Can the soft drink giant stay at the top after 135 years in the business? And what does the worldly decline of sugary beverages in the US mean for the future of Coca-Cola?
Check out the video above to learn more.