站在2025年的末尾预判明年走势，酷爱用天气做比喻的可口可乐公司董事会主席兼首席执行官詹鲲杰（James Quincey）形容说，宏观经济晴雨状况预测 显示，"雨势会持续加大而不是减小"。 "无论宏观经济形势带来怎样的利好或不利因素，我们都非常专注于我们能够掌控的方方面面，从市场营销到创新、执行和定价。"他提到，得益于做出了 一些有效的调整，可口可乐公司今年9月的业绩就明显比7月和8月要好。 小食代留意到，昨天，詹鲲杰出席了摩根士丹利全球消费及零售大会，他在会上不仅给出了2026年的展望，还谈到了这家全球最大软饮料公司的应对之 策，以及当下对收购的最新想法、热门AI话题，并回应了关于CEO接班人计划等提问。 下面，小食代就带大家一起来关注下现场消息。 值得注意的是，詹鲲杰指出，在当前形势下，可口可乐能够主动掌控的、非常重要的一点就是——细分管理（segmentation），特别是按购买力进行细 分。 "虽然消费者面临压力，那并不是所有人、所有地方、所有时间都会如此。所以，关键在于弄清楚：哪些人面临压力？从消费者行为洞察的角度来看，他 们的特征是什么？这将有助于精准营销，确定营销信息的内容，以及应该在哪些平台上 ...

Core Insights - Coca-Cola and other brands are launching customized products specifically for the snack retail channel, adjusting sizes and prices to better fit this market segment [1][3][5] Product Customization - Coca-Cola has introduced 400ml bottles for its classic and zero-sugar variants, reducing the price from 2.8 yuan to 2.3 yuan to target snack retail channels [3][5] - Other brands like Ferrero, Lays, and Oreo are also creating tailored products for the snack retail market, indicating a broader trend in the industry [3][5][7] Market Growth - The snack retail market in China is projected to reach 1,040 billion yuan in 2024, with a year-on-year growth of 28.6%, and is expected to exceed 1,500 billion yuan by 2027 [8] - The number of snack retail stores is anticipated to grow to 45,000 by 2025, highlighting the channel's rapid expansion [8] Strategic Considerations - Brands are leveraging the snack retail channel to penetrate lower-tier markets and fill market gaps, as these stores provide access to a broader customer base [8][9] - Customized products help prevent channel conflicts and stabilize pricing across different retail formats, addressing concerns about price competition [10][11] Consumer Reactions - Consumers have expressed mixed feelings about the new customized products, with some appreciating the new packaging while others are concerned about reduced quantities at similar prices [5][12] - The challenge remains for brands to balance the needs of different channels and consumer expectations regarding value [12]

Core Viewpoint - Coca-Cola and other brands are launching customized products specifically for the snack retail channel, adjusting product specifications and pricing to capture market opportunities and differentiate from traditional channels [1][3][9]. Group 1: Product Customization - Coca-Cola has introduced customized products in 400ml bottles for the snack retail channel, reducing the price from 2.8 yuan to 2.3 yuan to enhance market coverage [3][5]. - Other brands like Ferrero, Lays, Oreo, and Qiaqia are also developing tailored products for the snack retail market, indicating a broader trend in the industry [3][5][9]. - The snack retail channel is projected to grow significantly, with the number of stores expected to reach 45,000 by 2025, prompting brands to adapt their offerings [3][9]. Group 2: Market Dynamics - The snack retail market in China is estimated to reach approximately 104 billion yuan in 2024, with a year-on-year growth of 28.6%, and is expected to exceed 150 billion yuan by 2027 [9]. - Brands are leveraging the advantages of the snack retail channel, such as large-scale procurement and low-cost operations, to tap into under-served markets [9][11]. - Customized products help brands avoid channel conflicts and stabilize pricing across different retail environments [12][14]. Group 3: Consumer and Channel Reactions - Consumers have mixed reactions to the new products, with some appreciating the new packaging while others express concerns over reduced quantities and perceived price increases [5][17]. - Traditional distributors are experiencing reduced competition from the customized products, but they still face challenges due to the inherent price advantages of the snack retail channel [15][17]. - Brands must balance the needs of different channels and consumer expectations, which can lead to dissatisfaction among some stakeholders [17].