可口可乐涨价变味后，突然卖不动了？

Core Viewpoint - Coca-Cola has reported its first zero growth in global single-serve sales in a decade, indicating a significant decline in sales performance, particularly in the Asia-Pacific region, where operating profit dropped by 5% year-on-year and 36% in Q4 [4][6]. Group 1: Sales Performance - In 2025, Coca-Cola's global single-serve sales remained flat, marking a decade of zero growth, with revenue of $47.941 billion and a net profit of $13.137 billion, reflecting a 2% and 23% increase respectively [6]. - The decline in sales is attributed to stagnation in key markets such as the U.S., Mexico, and Thailand, which offset growth in Central Asia, North Africa, and Brazil [6][8]. - The Asia-Pacific region, including China, saw a revenue drop to $1.139 billion, down 7% year-on-year, with operating profit falling by 36% [6][9]. Group 2: Market Challenges - Coca-Cola faces increasing competition from local brands like Eastroc Super Drink, Nongfu Spring, and Genki Forest, which have shown strong market performance [10]. - The company's price hikes have led to consumer dissatisfaction, with many reporting changes in taste and quality, contributing to a decline in brand reputation [12][14]. - The shift in consumer preferences and the company's failure to adapt to these changes have resulted in reduced impulse purchases [12][15]. Group 3: Pricing Strategy - Coca-Cola has implemented multiple price increases, with product prices rising by 4% in 2025, despite stagnant sales [14]. - In various regions, prices for products have increased by 7% to 25%, with the price of a 500ml bottle rising from 3 yuan to 3.5 yuan [14]. - Experts suggest that relying solely on price increases is unsustainable, and the company must focus on volume to share costs, or risk falling into a cycle of declining sales [15]. Group 4: Leadership Changes - Coca-Cola's current COO, Brian Smith, is set to replace CEO James Quincey on March 31, 2026, raising questions about the company's future direction in the Chinese market [15][17].