‘A joke!’: Coca-Cola responds to Australian price hike fury
The fizzy drink company has explained why its cult-beverage is at a record high after Aussies aired frustrations over its current price.
Coca-Cola has responded after Australians took to social media to air their frustrations at the current supermarket price of its popular soft drink.
Shoppers have been venting online after spotting the 30-can pack is currently listed at $50 in both Coles and Woolworths.
Until recently, the price of the same item was $47.20, though shoppers could snag it for as little as and $28.30 if it was on special.
The new $50 price is less than a $3 increase, but it has left many shoppers outraged, particularly as cost of living pressures have seen the average grocery bill increase by $1000-a-year.
In one video, a disgruntled Aussie described the price tag – which applies to the Zero Sugar, Diet and original Coke varieties – as a “sick joke”.
While one woman said the drink company must be “taking the piss”, noting there was “no way in hell” they would purchase the bulk-buy pack at that price.
It’s understood the recent price increase comes after Coca-Cola asked the supermarkets to increase the price in what’s called a “supplier cost request”.
Coca-Cola said that the request comes after a “combination of supply chain cost pressures” and “consistently rising material and commodity prices”.
The 24-pack of Coca-Cola also copped a price rise at the start of the year, going up from $38.50 to $41.25 at Coles and Woolies, while one shopper spotted the 30-pack priced at $53.90 in one supermarket.
The US company also recently warned it may have to sell more of the cult-fizzy drink in plastic bottles after President Trump ordered a 25 per cent import tax on all steel and aluminium entering the country, which could end up driving up the price of canned food and drink items.
Coca-Coal’s chief executive, James Quincey, told investors it would look to switch to alternative alumninum offerings if Trump’s tariffs end up making aluminium cans more expensive, the BBC reported.
“If one package suffers some increase in input costs, we continue to have other packaging offerings that will allow us to compete in the affordability space,” Mr Quincey said.
“For example, if aluminium cans become more expensive, we can put more emphasis on PET [plastic] bottles”.
Australia isn’t the only region that has seen price increases on its Coca-Cola products, with the price of its drinks going up by around 10 per cent globally last year.
But despite its higher price, it hasn’t stopped people consuming the popular beverage, with recent financial figures from the company showing more of us are drinking Coca-Cola than ever before.
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Aussies have been left with a bad taste in their mouths over the latest price change, with one claiming it was “cheaper to buy a slab of beer” than a few dozen cans of Coke.
“The prices are ridiculous,” agreed one.
“Surely this is some sort of sick joke. $50 for a 30-pack of cans of Coke ... That’s crazy. That’s the highest ever seen it at Woolworths. It’s disgusting,” agreed another.
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