It might sound counter-intuitive, but Coca-Cola [fortune-stock symbol=”KO”] is making more money thanks to packs with less soda in them.
Like other carbonated drink makers, such as archrival PepsiCo [fortune-stock symbol=”PEP”], Coke has been pushing smaller cans and bottles, betting that downsized packaging — namely, 7.5-ounce mini-cans and smaller 8-ounce glass bottles — is more in tune with what health-conscious consumers now want.
“The consumer is very much approving the smaller packages,” Coke CEO Muhtar Kent told Wall Street analysts on a conference call on Wednesday. “Smaller packages are growing much faster than larger packages.”
The company is also pushing customers in that direction by also raising prices on traditional packages, including 12-ounce cans and 2-liter cans.
And that, along with more marketing spending, was a key reason the company’s market share in the ‘non-alcoholic, ready to drink market’ grew for the 21st straight quarter, the company said. Kent…
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