The move is also in line with the company’s strategy to “accelerate” at-home consumption at a time when the away-from-home consumption segment, which typically forms the bulk of its sales, has been severely impacted.
Coca-Cola said all its manufacturing plants are functional and currently running at capacities similar to the levels seen during the year-ago period.Coca-Cola India on Tuesday announced the launch of two new products under its brand, Minute Maid, as the company looks to broaden its portfolio of functional beverages amid the pandemic-induced shift in consumption behaviour.
The move is also in line with the company’s strategy to “accelerate” at-home consumption at a time when the away-from-home consumption segment, which typically forms the bulk of its sales, has been severely impacted.
Addressing a virtual press conference, T Krishnakumar, president, Coca-Cola India and Southwest Asia, said it will take some time for away-from-home consumption to pick up.
The two new products — Minute Maid Vita Punch and Minute Maid Nutriforce — will be priced at Rs 150 and Rs 100, respectively, and will be available in the markets starting August 15. The introduction of Vita Punch also marks the firm’s entry into immunity-boosting beverages.
“Our long-term strategy entails offering more and more fruit-based beverages in line with consumer preferences,” Krishnakumar said.
Coca-Cola said all its manufacturing plants are functional and currently running at capacities similar to the levels seen during the year-ago period. Though consumers are expected to remain value-conscious for some time to come, demand has been improving every week since the last 12 weeks, officials said.
The beverage maker, which had been focusing only on digital and social media advertising until recently, is hopeful of widening its ad spends and launching ads on traditional media in the coming weeks.
Though Coca-Cola continues to stay invested in cricket, the company has not yet decided on advertising in the upcoming Indian Premier League (IPL). “We are still watching how things are going to unfold,” Vijay Parasuraman, V-P (marketing) for Coca-Cola India and Southwest Asia, said.
The brand reportedly spent an estimated Rs 135 crore as the on-air co-presenting sponsor for IPL 2019.
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