Non-alcoholic beverage sales growth decelerated as slightly stronger pricing growth was more than offset by weaker volumes in the two-week period ending July 27, according to Goldman Sachs Equity Research’s latest analysis of NielsenIQ retail scanner data. Here’s the top-level view:
- Overall dollar sales fell -0.8% in the two-week period, down from +1.5% in the four-week period and +2.6% in the 12-week period.
- Volume sales growth was down -2.9%, decelerating from +0.5% in the four-weeks and +1.4% in the 12-weeks.
- Average pricing growth “moderately accelerated,” according to Goldman Sachs, at +2% versus +1% in the 4-week period and +1.2% in the 12-week period.
CSDs
Carbonated soft drinks sales grew +2.8% in the two-week period, slowing from +4.8% in the four-week period. Volume sales slid -2.3% (+0.9% for four-weeks) while average pricing accelerated at +5.3% (+3.9% for four-weeks).
The Coca-Cola Company again outperformed the category at +3.3% dollar sales (+5.6% for four-weeks) as volume dropped -1.9% and pricing jumped +5.4%. PepsiCo saw dollar sales growth fall -1.5% (flat for four-weeks) against a -5.4% volume dive and +4.2% average pricing. Keurig Dr Pepper (KDP) grew +2.9% (+5.4 for four-weeks) with volumes down -1.8% and pricing up 4.8%.
In the better-for-you space, stevia-sweetened brand Zevia grew sales by +3.4% in the four weeks, accelerating from +2.4% in the four-week period. The company saw volume gains of +8.7% (+2.8% for four-weeks) and average pricing fall -4.9%.
Energy Drinks
Energy drinks sales have continued to fall, dropping -0.7% in the two week-period (-0.4%). Volume sales remained unchanged at -1.7% and average pricing inched up +1.1%.
Category leader Monster Energy, excluding Bang, was relatively consistent across both the two- and four-week periods, with dollar sales declining -3.3% and -3.2%, respectively. Volume fell -2.7% and pricing fell -0.6%. Red Bull grew sales +2%, slowing from +2.2% for the for-weeks.
Emerging performance energy brands Nutrabolt/C4 (+14.4%), GHOST (+7.2%) and Alani Nu (+32.6%) all saw gains in the two-week period while PRIME (-67.2%), Starbucks (-91%) and A Shoc (-86.1%) posted double-digit losses.
Bottled Water
Water sales were down -4.7% in the two-week period (-1.5% in the four-week period) as volume slid -2.6% and average pricing dropped -2.1%.
Private label products, which led the category, were down -2.1% in the two-week period alongside a -0.8% drop in volume and a -1.2% decline in pricing. The top brand portfolio in the space, BlueTriton Brands, saw sales fall -2.6% in the period with -0.9% volume and -1.7% average pricing.
Coca-Cola (-9.9%), PepsiCo (-7.3%), Nestlé Holdings (-11.7%) KDP (-8.4%) and Hint (-12.2%) also reported declines. Danone North America (+2.4%) was the only brand to see dollar sales growth in the period.
Sports Drinks
Sports drinks faced declines as dollar sales were down -7.1% in the two-week period (-2% for four-weeks). Volume sales were down -9.3% (-3.7%) and average pricing accelerated slightly to +2.4% (+1.8%).
Gatorade (PepsiCo) underperformed, falling -7.8% in the two-week period against a -10.9% volume slide and +3.5% average pricing. Coca-Cola’s portfolio of BodyArmor and Powerade dropped -7% (-2% in the four-weeks) as volume worsened -8.9% and average pricing ticked up +2%.
PRIME – which has become entangled in several new lawsuits in recent weeks – continued to see sales slide, posting a -24.7% decline in dollar sales in the two-week period (-25.6% in the four-weeks) with volume dropping -17.8% and average pricing diving -8.4%.
Sparkling Water
Sparkling water sales decelerated, up +3.9% in the two-weeks (+6.3% for four-weeks) with volume up +0.3% (+2.1%) and pricing up +3.6% (+4.1%).
Category leader Talking Rain was down -0.3% (+2%) as La Croix producer National Beverage Corp saw declines worsen to -7.3% (-6.2%).
Coca-Cola (+15.7%), Spindrift (+16.2%), Waterloo (+30.7%) and Supplying Demand (11.6%) all reported double-digit dollar sales growth. Meanwhile, PepsiCo saw sales fall -0.7%.
RTD Coffee
Ready-to-drink coffee sales were down -3.2% in the two-week period, relatively flat compared to -3.1% in the four-week period. Volumes slid -3.2% (-2.6%) as average pricing remained unchanged at 0%.
Starbucks sales fell -7.8% in the two-weeks (-7.6%) as volumes dropped -11.3% (-11.2%) and average pricing jumped +4% (+4.1%).
Danone’s STOK was up +10.7% in the two-week period, the only tracked brand to report positive dollar sales growth. Black Rifle Coffee Company (-4%), Coca-Cola (-6%), Califia Farms (-2.4%) and Kitu Life (-38.3%) saw dollar sales fall.
Coconut Water
Though smallest in dollar value, coconut water was once again the fast-growing among tracked categories, up +11.7% in the two-week period (+13.6% for four-weeks). Volume sales grew +14.9% and average pricing was down -2.8%.
Category leader Vita Coco grew +3.2% (+6% for four-weeks) and Danone-owned Harmless Harvest was up +17.6% (+18.1%).
Goya (+23.9%), C2O (+25.6%), Sun Hing Foods (+5.5%) and Brooklyn Bottling Group (+42.4%) all improved in the two-week period.