US consumers anxious to try Coca-Cola Energy and Coca-Cola With Coffee could be left waiting for some time, Coca-Cola’s chief executive James Quincey has said.
In April, the UK was among the first countries to get Coca-Cola Energy, a product with a flavour similar to classic Coke that competes with the likes of Red Bull, but does not contain taurine, a common stimulant in energy drinks.
Coca-Cola With Coffee, meanwhile, was first introduced in late 2018 in markets including Vietnam and Pakistan, which have high coffee consumption but relatively low carbonated soft drink sales.
Quincey, speaking on a call to analysts as the business revealed its second-quarter results, said the company had been "thinking about what would be the right timing" to introduce the two products in the US, but that it wanted to go through a multi-stage process of testing them in both developed and emerging markets to help tweak things such as packaging and launch marketing for the US market.
In addition, Quincey said that since Coca-Cola sealed the acquisition of Costa in January, the company had been "moving with speed" to integrate the coffee chain and "accelerating the opportunity to build a multiplatform business", with three main areas for growth: Costa Express vending machines, coffee beans and machines for food service clients, and ready-to-drink products – the first of which launched in the UK last month.
Coca-Cola’s net revenue was up 6.1% year on year to $10bn (£8.03bn) in the three months ending 28 June. Coca-Cola said it expected organic revenues to grow 5% in 2019 – an improvement from its previous projection of about 4%.