Coca-Cola Co. increased its sales and profit forecast for 2022 but also announced introducing packages at lower price points to prepare for a possible global recession. For the three months that concluded on September 30, 2022, the beverage company's sales grew 10% as customers continued to accept price increases. On average, Coca-Cola prices were 7% higher than they were during the same time last year. There has been a significant increase in the total revenue in the second quarter, July 2022, compared to the previous quarters in 2022 and 2021. However, net profit in the second quarter, July 2022, had declined slightly compared to the last quarter in 2022 and 2021.
Because of inflation, Coca-Cola has seen consumers switching to store-branded juice and water and shopping more at dollar stores in Europe and the United States.
The corporation proposes bundles at reduced price points for customers whose budgets are being stretched by inflation. The new products include refillable bottles in South Africa, new 750-milliliter and 350-milliliter bottles in Japan, and quarter-liter bottles and multipacks with fewer cans in the United States.
As increased prices and interest rates impact consumer demand, Europe's ongoing economic confrontation with Russia, and China's economy is facing challenges, US and European company activity declined in October, signaling a slowdown in regional and global development. Coca-Cola announced that it anticipates organic revenue, excluding the effects of currency fluctuations, acquisitions, and divestitures, to rise from 14% to 15% this year.
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