INDIA: Coke consumers double on price cuts
The company's East and South Asia president Patrick Siewart, said that its strategy to try and reach more consumers had involved the launch of a 200ml bottle in April, which is priced at five rupees. Coke also dropped the price of its 300ml bottle from 10 rupees to eight.
According to Siewart the result has seen the number of Coke's consumers doubled to nearly 300m.
"We have recorded strong double-digit growth in the first quarter and will see it continue in the second quarter. We are expecting a second year of double-digit growth," Siewart said.
"Our vision is to increase the per capita consumption and the affordability factor. With the launch of the 200 ml Coke, we have taken some seasonality out of the business," he added.
Coca-Cola has also invested US$100m this year to expand bottling capacity and add 200,000 retail outlets.
"We look at India as a very strategic market in the future development of Coca-Cola business. More so, because the per capita consumption is low which will go up in future," he said, adding that it ranks India alongside China as among the most important markets.
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