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Gastronomy and Wine Portal


Coca-Cola: the after-Covid growth period

28.07.2021, News

Coca-Cola’s revenues were up 42% in the second quarter of 2021 thanks to a recovery in before-Covid marketing investments.

The world’s largest producer of soft drinks announced a 42% increase in net revenues in the second quarter of this year to $ 10.1 billion. This growth in the company itself is explained by a steady recovery in some markets after the pandemic began to decline, as well as an increase in marketing costs. Coca-Cola CFO John Murphy said they doubled their marketing costs in the quarter compared to the same period last year, returning to the 2019 level.

According to Murphy, there are three priorities in Coca-Cola‘s operations: increasing consumer-oriented marketing investments, improving the quality of expenses, and their more targeted allocation. The company’s management is confident that it is marketing innovation, efficiency and effectiveness that contribute to the growth of revenue and profits.

The course for efficiency was set back last summer, when the company announced it would focus on its core, larger and stronger brands, ditching “zombie brands” that are limited to one market and growing at a slower pace than the group’s average.

Among the segments that showed growth in 2021, Coca-Cola names the consumption channel outside the home. Compared to the decline in revenue in 2020, when sales in temporarily closed stadiums and cinemas fell because of coronavirus, this year there is an increase in sales as consumers return to before-Covid entertainment.

In addition, the company remains the leader in online retailers in the ready-to-drink non-alcoholic beverage category, with a 54% improvement YTD. Coca-Cola management said e-commerce will remain a priority in the company’s development even after the end of the pandemic.

Photo: facebook.com/TheCocaColaCoUA