Coke exec: Diet Coke under pressure
Diet Coke, the country's No. 2 soda, may be losing some of its pop.
During a conference call with analysts on Tuesday, a Coca-Cola executive noted that Diet Coke was “under a bit of pressure” because of people's concerns over its ingredients, alluding to the growing wariness of artificial sweeteners in recent years.
Steve Cahillane, who heads Coca-Cola's North American and Latin American business, noted that the issue wasn't specific to Diet Coke, but that many diet foods and drinks have the same concerns.
“We believe very strongly in the future of Diet Coke,” Cahillane nevertheless stressed, noting that the drink was still the No. 2 soda in the nation.
Cahillane also noted that the company is investing in boosting Diet Coke's performance, pointing to recent promotions with singer Taylor Swift as an example.
Soda has been under fire from health advocates for several years now, and Americans have been cutting back on sugary fizz for some time. But in a somewhat newer development, diet sodas are falling at a faster rate than regular sodas, according to Beverage Digest, an industry tracker.
Last year, for example, sales volume for Coke fell 1 percent, while Diet Coke fell 3 percent. Pepsi fell 3.4 percent, while Diet Pepsi fell 6.2 percent.