"This is a move aimed at closing in on the category leader ThumsUp," a Pepsi official told the 'Economic Times'.
PepsiCo will make its flagship carbonated drink Pepsi less sweet and fizzier, changing its formulation for the first time in India, reported the Economic Times.
The move will place Pepsi at par with rival brands Coke and ThumsUp, which have stayed less sweet in comparison, the report said. The rework also comes at a pivotal summer quarter (April-June), which accounts for more than half of the packaged beverage industry's annual sales of Rs 28,000 crore in India. Out of this, Cola's segment is estimated to be about Rs 9,800 crore.
"Pepsi has traditionally been a sweeter drink, compared with rivals Coke and ThumpsUp. This is a move aimed at closing in on the category leader ThumsUp and comes on the eve of the crucial summer quarter this year, after last year's near washout quarter that coincided with the peak lockdown," an official directly aware of the matter told ET.
A spokesperson from PepsiCo said that the drink has now turned 'more refreshing', according to the report.
Cola and Coronavirus
Out-of-home consumption of cola contributed three-fourths of category sales before coronavirus pandemic, ET said.
And sales at these channels, which include cinema theatres, restaurants, railway stations, and holiday destinations, may come under pressure again due to the second wave of Covid-19.
"A lot is riding on the crucial April-June quarter this year for soft drinks, following the losses companies suffered in the same quarter last year during peak lockdown," the person quoted above told ET.
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