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Coca-Cola Plus Coffee and its zero-sugar alternative are part of a growing diversification of beverages that have helped the company boost sales.
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The infusion of Brazilian coffee beans into the signature soft drink is available in over 25 international markets after successful trial runs dating back to 2017.
"Internationally, a scaled launch of Coca-Cola Plus Coffee in more than 20 markets with a diligent consumer focus, consistent messaging and an integrated execution plan has driven strong performance," the Atlanta-based company said. International success hasn't led Coca-Cola to commit to bringing the product to the United States, however, according to a company spokeswoman.
The market for carbonated soft drinks declined 1.6 percent annually from 2012 to 2017, according to a bevindustry.com report, and brands have responded with a variety of strategies. As consumers drink less sugary sodas and look for healthier alternatives, beverage companies have had no choice but to adjust their product lineups.
But Coca-Cola topped Wall Street's sales expectations in Friday's third-quarter earnings report, bumping its stock 2 percent higher on the back of a changing product development strategy. Revenue grew 8 percent for the Atlanta-based beverage giant.
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"Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system," CEO James Quincey said in a statement. "We are positioning the company to create a better shared future for all of our stakeholders."
Coke's move toward smaller cans, lower caloric intake without sacrificing taste and low-sugar offerings, such as sparkling water beverages, have helped boost earnings, according to the company.
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The largest contributor to retail value growth was the flagship U.S. market, driven by continued double-digit volume gains in Coca-Cola Zero Sugar, in addition to strong growth in smaller packages, led by double-digit growth in 7.5-ounce mini cans.