The Coca-Cola Co. (NYSE: KO) has been facing an unavoidable problem for almost a decade: Americans are drinking less soda.
According to Beverage Digest, soda sales in the U.S. dropped 3% in 2013, which was worse than the 1.2% drop it experienced in 2012. The publication noted that soda sales have fallen for nine consecutive years.
Sales are down again in 2014. Citi Research reported that U.S. store sales of soda had dropped 1.9% in the first 12 weeks of the year.
Those numbers hit even closer to home this week when Coca-Cola reported that its total soda sales were down globally for the first time in 15 years in the first quarter. Global sales had been buoying Coca-Cola’s revenue, but even international sales dipped this quarter.