The beverage behemoth has already made mass changes in culture…is cannabis next?
It is almost a $100 billion company, in 200 countries (more than the 193 of the United Nations) and on average, 10,000+ Coca-Colas are consumed every second. They are a world leader for beverage, change and growth. While they flirted with the cannabis industry in 2018, nothing has come over it. But with Constellation and Diageo being huge players in the industry, Coco-cola could change the cannabis industry dramatically.
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Most people forget, Coke was the leader in the bottled water movement. While other sodas and beverages mocked or feared the concept, they slipped in and premiered Dasani. The brand was dominate for years and only recently lost to Pepsi’s Aquafina. They have the political clout, distribution, and resources to reach mainstream audience in multiple companies. And they know how to talk to customers.
The cannabis industry as grown some midsized companies, but it mostly filled with Mom & Pop businesses. While building a company they have to learn how to develop products for a mainstream audience which can be difficult. And they have to figure out running a business and distribution. Like the alcohol companies, Coke knows how to produce, market and move product, in a major way.
With Gen Z moving away from alcohol toward cannabis, Coke is well positioned to guide this market into life-long habits. There is also an opportunity to play off the “healthy” side of the company (water) and market CBD drinks and microdosing opportunities. Unlike rival Pepsi, who has had an on again/off again relationship with food, Coke has stuck strictly to beverages. WIth the slowly growing marijuana beverage market, Coke could make it a dominant player for consumers.
From developing the six-pack carrier in 1923, commonly used today, to the Big Gulp, they know and understand consumers. While Tab failed to take off, Diet Coke is the number one seller today. They have the data to deliver what consumers want at a price which is attractive.
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The marijuana industry already has major mainstream players guiding the future of the legalization and popular use. Coke, with their trusted reputation by all generations, could take it to the next level.
