“Health conscious consumers are buying less soda”
Spending on soft drinks dropped 3.3% between late November and a year ago, according to sales data gathered by Nielsen.
The decline in diet beverages was even steeper: Year-over-year, consumers spent 7.2% less on diet cola and 7.8% less on diet lemon-lime drinks.
It’s a concern on the mind of Pepsico CEO Indra Nooyi, who told investors in October that her company has seen “a fundamental shift in consumer habits and behaviors,” adding that “the diet slowdown has been a little more rapid than we expected.”
Industry watchers say the trend began about 10 years ago and is primarily driven by increasingly health-conscious consumers looking for ways to cut back on sugar and sugar substitutes.
The sales decline intensified in the last five years, said Hester Jeon, an industry…
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