Diet Coke Sales Plummet
I'll be honest, I love Diet Coke. I never drink it because I gave up soda completely a few years ago, but I can't deny that I think Diet Coke is delish.
I remember in my early 20's, I'd stock up on 12-packs of Diet Coke cans at the market whenever they went on sale, and I drank that stuff like it was going out of style! My mom always told me that it was bad for me and I shouldn't drink it, but I never listened. Then a few years ago, I decided for myself that it was bad for me, and I gave it up for that reason.
It seems I'm not the only one giving up soda, specifically Diet Coke, because their sales are falling.
Diet drinks in general aren't doing too well with companies around the world, because people are becoming more and more concerned about artificial ingredients like aspartame. Pepsi has listened to what people are saying and they have announced that they will stop using aspartame in Diet Pepsi. Coke however, has not taken an action to discontinue use of aspartame.
Diet Coke's volume around the world is down 8% in the third quarter. Coke has also reported a 5% drop in revenue and a decline in stocks.
CEO Muhtar Kent said in a statement that the company is doing what it can to "restore momentum" but added that it is still a "challenging macro environment."