Coca-Cola turns to alcoholic beverage, sports drink to stay on top

With US soda consumption on the decline, Coca-Cola has been forced to move into alcoholic beverages, sports performance drinks, and coffee.

Coke's launch of Topo Chico Hard Seltzer marked its first move into alcoholic beverages in the US after a four-decade-long hiatus

The company, who serves 1.9 billion drinks every day, also recently invested in the sports performance drink BodyArmor.

It acquired UK coffee maker Costa in 2019.

As the pandemic disrupted its away-from-home business, its revenue rose 5 percent on-year to $9 billion in the first quarter.

Coca-Cola CEO James Quincey said they have focused on improving marketing, cutting the portfolio of brands in half, focusing on our innovation pipeline over the last 12 months.

Coke is eagerly anticipating the summer season and the effects of vaccine rollouts.