AI-driven marketing helps Coca-Cola beat quarterly expectations
Digital tools like QR codes enhance Coca-Cola’s marketing and sales efforts.
Coca-Cola is harnessing AI and digital innovations to boost sales and product volumes, even in the face of price hikes. In the second quarter, revenue rose 3% to $12.4 billion, exceeding analyst expectations. CEO James Quincey highlighted the company’s use of AI in enhancing marketing and pricing strategies, which has helped retain customers despite financial pressures.
Studio X, Coca-Cola’s digital ecosystem, played a crucial role in this success. It enabled the creation of targeted content and real-time measurement of its impact. A collaboration with Marvel, featuring limited-edition graphics and QR codes, provided unique augmented reality experiences, driving volume and value share for Classic Coca-Cola.
The company is also piloting an AI-based tool for optimising price packs across channels. This tool personalises messages to retailers, suggesting items based on previous orders and market data (SKU: Stock Keeping Unit). Early results show a 30% increase in purchases of recommended SKUs, boosting sales for both retailers and Coca-Cola.
Despite challenges in the consumer landscape, Coca-Cola remains optimistic. The company plans to counter a decline in away-from-home sales by offering more food and beverage combos. With an improved outlook for organic revenue growth, Coca-Cola is confident in its strategy and future prospects.
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