The soft drinks company said growth in developing and emerging markets was led by China, India and Brazil. India is the beverage maker’s fifth largest market.
Coca-Cola chairman James Quincey called out India’s economy as “resilient with a strong job market and robust consumption.” Quincey said affordability, driven by single-serve and at-home entry packs, helped in driving approximately 3 billion transactions in India.
The company attributed growth of its India business to higher number of retailers, investments made in cold-drink equipment and pricing. It said it increased household penetration through targeted promotions on large packages for the at-home channel, adding that “in close alignment with its bottling partners, it continues to raise the bar in India in integrated execution.”
Within the Asia-Pacific region, Coca-Cola said its unit case volumes grew 10 per cent led by China, India and Australia.
On its company-owned bottling network, Coca-Cola said, “Unit case volume declined 1 per cent, primarily driven by the impact of refranchising bottling operations, partially offset by strong growth in India.”
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