Market News

Coca-Cola Looks to Coffee and Tea to Heat Up Sales

With the fizz gone out of soda sales, Coca-Cola is setting its sights on the hot beverage market with its debut of a new line of coffees and teas. Canada will be the test market for Coke\'s new Far Coast hot beverage brand (coffee, tea, lattes, espressos), which will be available to restaurants and hotels. The company has also introduced Chaqwa, a brand of coffees and teas available at fast food outlets and convenience stores and aimed at on-the-go consumers. The introductions follow the recent launch of Coke\'s Coca-Cola Blãk, a coffee-flavoured cola, to the Canadian market. Coke\'s foray into hot beverages comes at a time when sales of soft drinks are slumping and specialty coffees and teas among the fastest-growing categories. Source: Canadian Grocer E-Newsletter, September 8, 2006.