Coca-Cola Saw Strong Growth In Unit Case Volumes In India In Oct-Dec

Coca-Cola saw strong growth in unit case volumes in India in the October-December quarter, the company said in its earnings release.

In the quarter, the maker of the fizzy drink said its developing and emerging markets declined low single digits for the quarter and grew mid single digits for the year.

“This performance benefited from strong growth in India and Brazil and was unfavourably impacted by the suspension of business in Russia,” it said in its release.

The US-based drinks major saw its sparkling flavours unit case volumes decline 2 per cent for the quarter and it grew 5 per cent in 2022. The company attributed this performance to strong growth in India and the US.

In the Asia Pacific, its unit case volumes declined 1 per cent in the quarter because it saw strong growth in India and Vietnam, it said in its release.

It also said in the non-alcoholic ready-to-drink beverages segment, the company gained value share, led by gains in India, Australia, Japan, and South Korea.

In bottling investment, Coca Cola’s unit case volumes grew 1 per cent in the quarter, driven by gains in India and Vietnam.

During the conference call with analysts after its results, James Quincey, chairman and chief executive officer of The Coca Cola Company, talked about The Thums Up Stump Cam activation for cricket fans it ran during the ICC T20 Cricket World Cup.

Consumers could scan a QR code on the product label and get access to exclusive match moments of the ICC T20 Cricket World Cup through a camera installed during one of the weekends.

Throughout the 45-day tournament, the company used first-party data and artificial intelligence to send consumers personalised content based on their favourite matches and it amplified the experience through sports influencers, Quincey told its investors.

“The campaign showed strong results with Thums Up growing volumes ahead about total sparkling portfolio in India during activation period, contributing to strong volume growth a Thums Up for the full year. This drove about one quarter of India’s total volume growth for the year. Thums Up also experienced its highest monthly market share jumped during activation period,” Quincey said.