Does formula mystery help keep Coke afloat?
London (CNN) — Coca-Cola — the world’s ubiquitous brown fizzy drink — is staying afloat as the soda market shrinks, and many point to a marketing strategy around the so-called “secret recipe” as key to its resilience in a struggling industry.
The Coca-Cola Company, which published its full year result Tuesday, recorded a 5% drop in net income to $8.6 billion last year, down from $9 billion in 2012, as it faced “ongoing global macroeconomic challenges,” according to its chief executive Muhtar Kent. Volume grew 2% for the year, which it said was “below our expectations and long-term growth target,” with sparkling beverages recording a slight increase of 1% — led by Coca-Cola. Globally, soda drink sales have been shrinking as c… Continue Reading (4 minute read)