Over the past year, Coca-Cola has experimented with bizarre, limited-time flavors and immersive online experiences. Now, it’s setting its sights on adding more varieties of cans, bottles and value packs to offer cash-strapped consumers more options — even if that ultimately means paying more for less.
“Package innovation takes a bigger role,” when shoppers are worried about spending, CEO James Quincey said Tuesday during an analyst call discussing third-quarter results. “We will be approaching ’23 with a broad innovation agenda, but with some slight weighting to packaging.”
For companies like Coke, offering more types of containers — particularly smaller ones — is a way to hold on to or draw in customers worried about spending, even as prices continue to increase.
“It’s about extending the price ladder,” Quincey said, …