An increase in Monster's grocery, big-box retail and e-commerce sales offset losses in convenience channels for the second quarter, said CEO Rodney Cyril Sacks. E-commerce sales surged more than 269% while year-over-year net income rose 6.5%.
Growing at-home consumption lifted beverage sales 12.4% for the four weeks ending July 25 across channels, according to a Goldman Sachs study of Nielsen data. The final two weeks saw sales for Keurig Dr Pepper, Coca-Cola and PepsiCo jump 18.6%, 13% and 11.6%, respectively.
Zero-sugar sparkling water brand Sanzo, which offers three flavors popular in Asia -- lychee, mango and calamansi -- has raised $1.3 million in seed funding. Founder and CEO Sandro Roco plans to use the funds to usher the brand into a wider brick-and-mortar and online retail network, including Amazon.
Anomaly has won the US creative account for Coke, marking the end of Wieden+Kennedy's 15-year partnership with the brand. Anomaly already handles creative for Coca-Cola's Diet Coke and Minute Maid brands, and Wieden+Kennedy works on Coca-Cola's Sprite and Vitamin Water brands.
BodyArmor has signed seven additional professional athletes to serve as brand ambassadors, including NBA star Trae Young who wants to support a brand that "has the potential to be something big," said Young. Consumers most likely to grow the sport drink market are fitness enthusiasts and amateur athletes due to an increase in these activities during the coronavirus pandemic, said brand founder and CEO Mike Repole.
Almost 90% of people noted disruption in their homes due to the pandemic, with 31% saying they were consuming more supplements and 29% saying they were consuming more functional foods or beverages, according to The Hartman Group's Functional Food & Beverage and Supplement 2020 report. The report also found that more than half of consumers use functional foods or beverages to help with the treatment or prevention of certain conditions.