Pepsi tried to appeal to young customers last year with a poorly received commercial featuring Kendall Jenner offering a soda to a police officer on a protest line. Related: Diet Coke's new cans and flavors are Millennial-friendly "I'm not sure just the flavors and the packages will get us there, but it's certainly going to be a good step in the right direction." "We would love to at least stop declining, if not get into growth," CEO James Quincey told analysts last week. "We're making the brand more relatable and more authentic."Ĭoca-Cola spent two years on the relaunch. "Millennials are now thirstier than ever for adventures and new experiences, and we want to be right by their side," Rafael Acevedo, the group director for Diet Coke in North America, said in a statement about the new look and flavors. The campaign was aimed at a younger crowd: The new flavors, like Ginger Lime and Zesty Blood Orange, call to mind different variations of trendy La Croix seltzers. In January, Coke announced new Diet Coke flavors and a sleek new can. PepsiCo CEO Indra Nooyi recently told investors that a new, nostalgia-focused Pepsi Generations marketing push, playing up successful ad campaigns of the past, will help boost sales.ĭuane Stanford, executive editor of Beverage Digest, thinks Pepsi can win back customers by beefing up advertising for its core brands. And soda is cheaper to make than other beverages. Related: Coca-Cola's new CEO: 'We've got to experiment'Ĭarbonated soft drinks still accounted for $81 billion in sales in North America in 2016, according to Beverage Digest - way more than growing categories like water ($23 billion) and sports drinks ($9.4 billion). "They got very distracted for the last few years on cola," she said. While it was branching out, Pepsi took its eye off its namesake product, said Caroline Levy, a research analyst who covers beverages for Macquarie Capital. PepsiCo merged with Frito-Lay and now owns Quaker Oats, Tostitos and other food brands. Evolving tastes and sugar taxes have encouraged brands like Coke ( KO) and Pepsi ( PEP) to invest in healthier alternatives.īoth companies have diversified their product lineups, but the stakes in cola are higher for Coke. People are turning away from sugary drinks and empty calories.
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