For the first time in more than a decade, Powerade is undertaking a revamp with the addition of two new sugar- and calorie-free products—Powerade Power Water and Powerade Ultra. The last time the Coca-Cola brand rolled out a new sports drink line was way back in 2007, when they came up with Powerade Zero.
Bolstering its portfolio in sports drinks market, the new sports drink line—Powerade Ultra—comes with a zero-sugar and zero-calorie, electrolyte sports drink, containing BCAAs, creatine, vitamin B12, B6 and B3 and the company asserts the novel product has 50% more ION4 electrolytes than classic Powerade. The water-based Powerade Power Water contains zero sugar and zero calorie, vitamins B6, B3, B12 and has ION4 electrolytes.
Shane Grant, Coca-Cola’s president who leads the sports, water, coffee and tea business in North America expressed his bullishness on a $12 billion brand. Grant noted that for the first time in a decade the company was rolling out two products in sports beverages category.
Responding to the changing consumer habits, large-cap consumer packaged goods (CPG) companies such as Coke have left no stone unturned to boost their product portfolios through innovations.
Coca-Cola’s CEO James Quincy stressed the fact that they are in a quest to find new ways to connect with consumers through leader brands. Quincy commented that consumer-centric innovation has been the linchpin, that incorporates smaller packaging including mini cans which is expanding at a double-digit rate of more than 15% (sales) year-to-date in the U.S.
Grant emphasized relevance of shift in strategy as they have made a slew of huge announcements outside the realm of core sparkling businesses. The palpable shift in strategy seems to augur well for investors. Shares in Dow component jumped 25% for Coca-Cola in the past 12 months and have outplayed Dow Jones Industrial Average (˄DJI). Meanwhile, Coca-Cola is expected to report Q4 financial statement on January 30 before the market opens.