PepsiCo, Inc. (PEP) CEO Indra Nooyi Sees Big Potential For Craft Soda
PepsiCo, Inc. (NYSE:PEP) CEO, Indra Nooyi, said that she sees big potential for craft soda. Her comments came on the back of an attempt by beverage makers to use craft soda to restore some of the allure that the cola enjoyed over the years.
Cola Lost Its Cool
PepsiCo, Inc. (NYSE:PEP) CEO admitted during a conference on Beverage Digest’s ‘Future Smarts’ that the cola has lost its cool. In its place, she said, craft soda such as Caleb’s Kola might attract consumers’ attention. She expects craft to provide a big opportunity to offset weakness witnessed in the cola market, which was wide-spread in the industry.
Nooyi’s justified her opinion by saying that Caleb’s Kola provided a unique taste, which was ‘catching on’ with the consumers’. However, her comments were not backed with any sales numbers. PepsiCo, like other big soft drink companies, has been struggling with the industry-wide fall in soft drink consumption, impacting sales figures. The fall has been attributed to customers’ growing preference towards healthier beverages that have less artificial ingredients and sugar.
PepsiCo, Inc. (NYSE:PEP)’s CEO said that consumers have become more health consciousness and that consumers’ consciousness towards wellness and health had advanced from a concentration on natural ingredients foods, exercise, and diet drinks during the last few years of transition.
However, PepsiCo CEO seemed to be ready to change the company’s tactics to take care of consumers’ changing tastes. For this, she said that the company was investing in new products to take aim at keeping pace with the changing needs of consumers.
Focus On Dairy
PepsiCo, Inc. (NYSE:PEP)’s CEO was firm about one thing, i.e. it would weigh options before venturing into investing. However, she was categorical in saying that PepsiCo would neither take any ‘foolish risks’ nor ride on a single trend.
Nooyi pointed out that Dairy was one area where it was exploring the possibilities currently. Coca-Cola recently released a higher protein milk drink.
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