The Motley Fool investment site suggests the jig is up for bottled water, citing pluning sales figures.
More importantly, their reaction to the products suggests a larger problem for bottled water than the recession; When even Wall Street thinks your product represents “one of the weirdest episodes in the history of corporate marketing,” you’re no longer cool:
More than a year ago, my Foolish colleague Alyce Lomax called the bottled-water craze “one of the weirdest episodes in the history of corporate marketing, not to mention consumer behavior.”
I couldn’t agree more.
And while consumers were already starting to rethink their habits at that time, we may now be seeing a full-fledged paradigm shift.
A recent Wall Street Journal article reported that U.S. sales of Coke’s Dasani brand plummeted almost 26% — excluding sales at Wal-Mart Stores NYSE: WMT — in the 12 weeks ended Aug. 8.
In contrast, Pepsi’s Aquafina showed a 13.8% dip, and consumers enjoyed a 5% price discount. The Poseidon of the U.S. bottled-water market, Nestle OTC BB: NSRGY, saw its first-half 2009 global water sales slump nearly 3% on an organic basis, largely because of weakness in North America and Europe.
Found via Bottled Water Batters the Blue Chips.