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Affordable offerings helped Coca-Cola increase consumer base in India in Jan-March, Retail News, ET Retail

Affordable offerings helped Coca-Cola increase consumer base in India in Jan-MarchNew Delhi: Soft drink major The Coca-Cola Company on Monday said its strategy of increasing consumer base by expanding affordable offerings at key price points in the country resulted in adding more than 50 crore incremental transactions in the first quarter despite an inflationary environment. In India, the cola major is expanding affordable offerings through the use of single-serve packages at low price, said a global earnings statement by The Coca-Cola Company released for the January-March quarter.

“In the first quarter, this strategy yielded strong results with more than 500 million incremental transactions added in India, up nearly 20 per cent versus the prior year,” it said.

Approximately 70 per cent of these incremental transactions were driven by small packages such as returnable glass bottles and affordable single-serve PET packages, The Coca-Cola Company added.

The Atlanta-headquartered company is building a competitive edge through excellence in Revenue Growth Management (RGM) in close alignment with its bottling partners.

According to the company, “Accelerated cost pressures and ongoing supply challenges continue across markets, and the company is leveraging RGM to provide compelling customer and consumer solutions by segmenting markets based on occasion, brand, price, package and channel.”

For the first quarter, The Coca-Cola Company’s net revenues grew 16 per cent to USD 10.5 billion.

Its unit case volume grew 8 per cent, with broad-based growth across all operating segments, including India.

“Growth in developed markets was led by the United States, the United Kingdom and Mexico, while growth in developing and emerging markets was led by Brazil and India,” it said.

While its nutrition, juice, dairy and plant-based beverages grew 12 per cent, led by fairlife in the United States and Minute Maid Pulpy in China and Maaza in India, said The Coca-Cola Company.

While in the Asia Pacific market, in which India falls, Coca-Cola’s unit case volume grew by 4 per cent “driven by India and the Philippines”, it said.

Unit case volume means the number of unit cases of beverages directly or indirectly sold by the company and its bottling partners.

India is the fifth-largest market for Coca-Cola globally.

James Quincey, chairman and CEO of The Coca-Cola Company, said: “We are pleased with our first quarter results as our company continues to execute effectively in a highly dynamic and uncertain operating environment.”

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