Coca-Cola is ending about half the drink brands in its portfolio, including Dasani, Vitamin Water, and Odwallah. It will focus its resources on core products, such as Coca-Cola Zero Sugar and fast-growing niche brands including AHA caffeinated seltzer and Topo Chico hard seltzer, CEO James Quincey said recently to analysts.
Sales of water brands and sports drinks fell 11 percent in the third quarter, he noted.
The dying brands make up only about 2 percent of Coke’s portfolio, Quincey noted, and many are regional, not national.
The company’s third-quarter revenues fell 9 percent to $8.7 billion. Coke attributed the downturn to restaurants, arena events, and other venues being closed during the shutdown.
TREND FORECAST: As the “Greatest Depression” worsens, as we have reported, the Bigs will continue to get bigger. And, as evidenced by Coca-Cola and others, they will shed niche brands that are not profitable.
Thus, the number of items available to the public will shrink. This will provide opportunities for OnTrendpreneurs® to fill the market gaps they have created with new products and services.
