Coca-Cola Launches Lens Platform to Offer Key Data for Retail and Foodservice

The Coca-Cola Company is launching Coca-Cola Lens, an open-source insights platform that distributes data and experiences from hundreds of thousands of retail and foodservice establishments across North America.

Coca-Cola's New Platform Offers Real-Time Insights and Data-Driven Growth Strategies for Merchants

The platform was created to assist merchants and operators in navigating the current economic climate. But it also wants to help them grow by making data-driven judgments, as per Beverage Daily.

Coca-Cola operates more than 250,000 retail stores and 500,000 foodservice outlets in North America. This puts it in a unique position to supply organizations with vital, real-time insights.

The platform uses Coca-Cola's internal technologies and data, as well as insights from secondary and third-party sources, to highlight findings on a user-friendly website that is accessible to everybody.

Coca-Cola says the platform "dives deep into the details of customer behavior, and then zooms out to illustrate the trends and context that make up the wider picture, all with a forward-thinking attitude."

The site begins with 16 thought leadership stories on themes ranging from broad macroeconomic trends and the status of the business to reporting on narrow categories such as premium water trends.

Macro Trends

• Rising expenditures have put a severe pressure on many households.

• Key developments in culture, technology, the economy, and the environment are likely to reshape the consumer and business landscapes during the next three years.

• Consumer behaviors are shifting as a result of demographic changes. Only 37% of US homes are classified as 'nuclear families', which is almost half the rate 50 years earlier. This transition necessitates new methods of thinking about multigenerational, multicultural, and multi-roommate families.

• Consumers are becoming more aware and detail-oriented about their own health demands.

• Advancements in technology, particularly AI and automation, are boosting creativity and productivity.

• Many consumers struggle to understand how to make appropriate sustainability decisions. In fact, 78% said they are unsure how to identify environmentally responsible businesses.

“Coca-Cola has always been dedicated to driving growth with our partners. With the launch of Coca-Cola Lens, we're taking that commitment to the next level. Now, customers will be able to self-serve the actionable insights they need, precisely when they need them, empowering our partners to navigate the evolving landscape with confidence and agility,” Dagmar Boggs, Head of Foodservice at Coca-Cola North America, said.

Who is Gen Z?

• Gen Z experiences a variety of developmental milestones: 64% have a license, 60% are in school, and 25% are employed.

• Gen Zers are the ones 'pushing limits' on the social, economic, and personal fronts.

• They are searching for authenticity and eager for information (and have access to it).

• 60% of Gen Z feel they have the most influence over the food and drink they buy at home.

“We are launching Coca-Cola Lens to deliver on the promise to create value beyond beverages to our customers, while serving as thought partners and consultants. Together, we will navigate this dynamic landscape, leveraging data and tools to drive our business strategies forward and accelerate growth,” Pamela Stewart, Chief Customer Officer – Retail, Coca-Cola North America, said.

E-commerce: Top trends

• Digital commerce in retail is expected to rise by 53% over the next three years, accounting for 41% ($116 billion) of predicted total grocery store growth ($281.5 billion).

• 90% of customers shop online, but just 75% of retailers agree that providing a pleasant digital experience is vital to success.

• There is no longer a distinction between 'in-store vs. internet shopping' because customers switch between channels during their purchasing journey.

• Retailers are developing media-centric platforms (social, streaming, gaming, EV charging) to catch attention and drive purchases.

Photo: James Yarema/Unsplash