Coca-Cola Zero Sugar will be the organization’s greatest source of development in 2021, the CEO says
The greatest source of development for Coca-Cola throughout the next few years will probably be the zero-sugar version of the organization’s namesake soda.
“Actually, the best growth driver in ’21 and probably for the few years is probably going to be Coke Zero Sugar,” Coke CEO James Quincey said in an interview that aired Friday on CNBC’s “Closing Bell.”
The drink launched nationwide in 2017 as an updated version of Coke Zero, which was 12 years of age by then. Coke Zero Sugar was intended to take after the traditional Coke soft drink all the more intently, yet still, appeal to health-conscious buyers by leaving out the sugar. Also, the product has paid off for the organization, fueling sales development in any event, during the Covid pandemic.
“Coke Zero grew in 2020 through Covid, and, actually on an absolute basis, is the biggest driver of growth for the company,” Quincey told CNBC’s Sara Eisen.
Quincey highlighted Coke’s Topo Chico Hard Seltzer and AHA sparkling water as new products that are doing great in the early days of their launches.
Other drink launches, similar to Coke Energy, have been tested by the current emergency. Executives told investigators on the organization’s Feb. 10 earnings call that they would double down on Coke Energy this year after lockdowns hurt the initial launch early a year ago.
Shares of Coke have fallen 16% over the last year, giving it a market value of $215 billion.