The price of Coke has risen again after 3 years!

Coca-Cola CEO: We have to do this

　　Three years later, Coca-Cola is about to increase its price.

According to a CNBC report in the United States, the CEO of Coca-Cola said in an interview that the next step will be to increase prices to deal with the pressure caused by rising commodity costs.

　　The beverage giant has joined the ranks of Kimberley and J·M·Smucker and will start to increase prices.

Although this move can help the Coca-Cola Company increase its profit margins, it may be at the expense of some price-sensitive consumers who are still struggling with the economic impact of the new crown epidemic.

　　"We have good hedging measures in 2021, but the pressure will be great in 2022, so we have to increase prices," said Coca-Cola CEO Quincy. "We hope to deal with these issues wisely and consider changing our Packaging size, etc., truly optimize the price point for consumers."

　　It is reported that during the epidemic, Coca-Cola shifted its production focus to the use of larger retail packaging to attract consumers who spend more time at home and like to stock up in stores.

But before the epidemic, both Coca-Cola and its competitor Pepsi favored small canned and bottled beverages. The unit price per ounce was higher for consumers but more profitable for manufacturers.

PepsiCo executives said last Thursday that when the epidemic subsides, they expect small-packaged beverages to sweep the market again.

　　In the interview, Quincy did not disclose which Coca-Cola products will increase prices.

The last time the company announced a price increase, it dates back to 2018.

　　On April 19, local time, The Coca-Cola Company also announced its corporate financial report for the first quarter of 2021.

The financial report showed that Coca-Cola's first quarter revenue increased by 5% year-on-year to 9.02 billion US dollars, but the company's net profit was 2.25 billion US dollars, which was a 19% decline from the 2.78 billion US dollars in the same period last year.

After the results were announced, its stock price rose by less than 1% in early trading, although this revenue exceeded Wall Street's expectations.

In March this year, customer demand has reached the level before the epidemic, but Coca-Cola executives emphasized that the global recovery is uneven.

　　Chengdu Commercial Daily-Red Star News reporter Wang Yalin