Volume declines helped decelerate non-alcoholic beverage sales growth for the two-week period ending May 7, according to an analysis of NielsenIQ data by Goldman Sachs Equity Research.
Total beverage dollar sales were up 8.5% year-over-year in the two-weeks, compared to 9.9% growth for the four-week period and 11.1% in the 52-week period. Meanwhile, volume sales declines accelerated, falling 2.5% in the two-weeks versus -0.6% in the four-week period, with CSDs seeing some of the largest slides amid high price increases. On a two-year stack basis, dollar sales were up 20.8% in the two-week period, compared to +25.9% for four-weeks.
Looking at major companies, The Coca-Cola Company, PepsiCo and Keurig Dr Pepper (KDP) all saw a slowdown in sales growth, while Monster Energy sales accelerated on a one-year basis thanks to an improvement in volume sales. Price growth was up significantly for the three leading conglomerates, but moderated for Monster, the report said.
Sodas & CSDs
Total soda dollar sales were up 10.4% for the two-week period, decelerating from +13.9% in the four-week period, but up from +9.2% growth for the 52-week period. Volume sales for the category dropped 4.2%, compared to a 1.6% increase in the four-weeks, while average pricing jumped 15.2% in the two-weeks.
Coke sales improved by 15.1% (+19.3% for four-weeks) with a volume slide of 2% and an average price increase of 17.4%. PepsiCo sales grew 4.7% in the period (+7.5% for four-weeks), with volume down 8.8% and pricing up 14.8%. KDP dollar sales rose 9.5% (+13% for four-weeks) and volume slid 3.3% against +13.2% in pricing.
Energy Drinks
Energy drink sales saw modest deceleration in the two-weeks, with dollar sales rising 8.3% compared to +8.5% growth in the four-week period and 12.4% for 52-weeks. Volume sales accelerated slightly, growing 4% versus 3.9% in the two-weeks and average pricing resisted broader beverage trends, rising just 4.1% (a modest deceleration from a +4.4% increase in the four-weeks).
Monster was broadly in line with the category, reporting dollar sales growth of 8.4% with +4% to volume sales and +4.2% in average pricing. Red Bull sales grew 3.2% based on +2.2% volume growth and +1% for pricing. Starbucks sales were up 4.4% against a 2.9% decline to volume and +7.5% for pricing. Emerging fitness energy brands Celsius (+191.1%) and Nutrabolt’s C4 (+156%) continued to see strong triple digit dollar sales growth and both companies decreased average pricing, down 2.6% and 1.3% respectively.
Meanwhile, Bang posted double-digit declines with dollar sales falling 11.7% in the two-weeks and volume down by 12.9%; average pricing was up just 1.4%. PepsiCo (Rockstar and MTN Dew) sales dropped 10.1% and volume fell 14.6%, while pricing rose by 5.3%.
Bottled Water
Water sales were up 13.6% in the two-weeks (+13.9% for four-weeks) with volume rising just 0.7% and average pricing growing 12.7%.
Private label sales were up 27% in the period against a 1.3% volume increase and +25.4% pricing. Blue Triton Brands was up 10.7%, fueled entirely by a +10.7% price increase as volume remained flat. Coke’s 1.2% dollar sales growth was flat against the four-week period, but volume dropped 8.2% while pricing jumped up 10.3%. PepsiCo sales were up 8.4%, volume rose 3.1% and pricing was up 5.2%.
Sports Drinks
Category dollar sales increased 2.6%, decelerating from +3.4% in the four-weeks and +15.3% in the 52-weeks. An average price increase of 20.2% offset volume sales declines of 4.6%.
PepsiCo (Gatorade) sales fell 0.8% in the two weeks, compared to +0.8% growth in the four-week period. Volume was down 19% and pricing was up 22.4%. Coke (BodyArmor and Powerade) sales were up 2.4% versus 1% in the four-week period, while volume declined 7.3% and pricing was up 10.6%.
Tea
Ready-to-drink tea sales rose 2.6%, mildly decelerating from 3.6% growth in the four-weeks. Volume sales fell 4.7% in the two-weeks while average pricing climbed 7.7%. Pepsi/Lipton sales fell 1.7% in the period, fueled by an 11.1% drop in volume while pricing increased 10.5%. Coke’s tea sales were down 6.8% in the period, with volume diving 15.3% and pricing up 10%.
Sparkling Flavored Water
Dollar sales grew 2.1% in the two-weeks, versus +2.3% in the four-weeks. Volume dipped 6.2% and pricing was up 8.8%.
Talking Rain (+3.1%), Polar (+25.4%) and Spindrift (+29.4%) all reported positive sales growth as each posted declines in average pricing of -0.2%, -3.6% and -9.7% respectively. Meanwhile, National Beverage Corp. (-6.7%), PepsiCo (-9.4%), Coke (-15.4%) and Nestle (-6%) all experienced dollar sales declines.
Coffee
RTD coffee sales accelerated, growing 0.5% compared to a 0.2% decline in the four-week period. Volume sales were down 3.6% as pricing increased 4.2%.
PepsiCo and Starbucks’ North American Coffee Partnership reported sales down 5.2% in the two-week period, as volume dropped 12.3% and pricing was up by 8.2%. Danone North America (+30.2%) and Califia Farms (+22.8%) saw dollar sales increase, while Coke’s sales fell 22.6%.
Still Flavored Water
Category sales were up 5.6% in the two-weeks, compared to 5.4% growth for four-weeks. Volume sales fell 12.9% while pricing rose 21.2%.
Coke’s dollar sales were down 1.3% in the two-weeks, with volume falling 15.5% and pricing rising 16.8%. PepsiCo (+13.9%), Hint (+22.2%), Kraft Heinz (+22.7%) and good2grow (+29.6%) meanwhile all saw double-digit sales growth.