Tuesday, April 21, 2020

Coca-Cola Sales Slide as Pandemic Progresses


Throughout the course of the pandemic, many companies have seen a fall in consumer consumption. As a result, another company added to the list of falling sales is Coca-Cola. As of April 21st, global sales have dropped 25% since the beginning of the month. Since millions of individuals around the world are under a stay-at-home order and not participating in social activities, Coca-Cola's Chief Executive James Quincey said, "We may be at the end of the big global lockdown, but we are still a long way from the new normal."

During the months of the Coronavirus, the company has had to cut marketing and capital spending, as well as put employees on a paid furlough until the end of June. Some of the companies' strategies during this pandemic is concentrating on their main brands such as Coke products and other brands such as Dasani water and Powerade. As a result, the March-ended quarter recorded a 1% decrease to $8.6 billion dollars, compared to $2.76 billion dollars for the same time last year. 

This article is related to marketing because this shows all companies, both big and small, are being impacted by the lockdowns across the globe. Since most customers of the company are closed, such as movie theaters and restaurants, Coca-Cola should re-evaluate their marketing strategy to encourage more individuals to purchase their products. For example, a new strategy could be to make ads promoting doctors and nurses drinking their Coke products and each purchase of a drink will send a percentage of the sale towards the fight for a vaccine.


https://www.wsj.com/articles/coca-cola-quarterly-sales-slide-as-pandemic-progresses-11587466055?mod=business_lead_pos1

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