LaCroix sparkling water’s parent company, National Beverage, released disappointing sales data after the brand slashed prices to remain competitive.
As consumers reject sugary carbonated beverages, demand for low calorie flavored waters has spiked.
Big names such as Coca-Cola’s Dasani have entered the category, while Pepsi launched Bubly with a huge marketing push.
With a crowded marketplace, LaCroix cut its prices in attempt to stay competitive.
However those discounts cut into its substantial profit margins.
Sales data the company released also showed a drop in overall sales even as sparkling water sales grow.
In 2018, consumers spent $49 million in sparkling water — which was up 22% from the year before.Click here to read the full story »