| Coca-Cola's sales growth up |
| Tuesday,June 28,2005 Posted: 16:08 BJT(0808 GMT) Shenzhen Daily/Agencies |
BEIJING, June 28 -- Coca-Cola Co., the world’s top soft drink maker, said Monday its sales in China had risen about 20 percent so far in 2005, outpacing the 16 percent growth the U.S. firm chalked up over all of 2004. “Last year we grew 16 percent, this year we’re growing more than that,” said Paul Etchells, the U.S. company’s China president. “It’s growing about 20 percent.” Etchells said that China would overtake Brazil in the “next couple of years” to become the corporation’s third-largest market, after the United States and Mexico. Coca-Cola, which currently counts China as its fifth-largest market by sales, has struggled for years to revive sluggish soft drink sales in its more developed markets. The U.S. giant, which vies with Pepsico Inc. and claims a leading 53-percent slice of China’s carbonated soft drinks market, is turning to emerging markets to combat a prolonged downturn in America, Germany and other major markets. It plans to bring Coco-Cola and other products — from Nestea to Minute Maid juice — to the 80 percent of China’s 1.3 billion people that live in the vast countryside. China has proved a tough market to crack for beverage makers due to a die-hard tea drinking culture and a traditional aversion to cold drinks, believed by many to be unhealthy. The average Chinese takes in just 12 soft drink servings a year, executives have said. Indeed, packaged teas account for 35 percent of the soft drinks market in China. The firm also competes with private beverage maker Hangzhou Wahaha and its Future Cola, and other drink producers from Tingyi to Uni-President of China’s Taiwan. (Source: Shenzhen Daily/Agencies) |
| (Source: English Site of Kuching) |
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