July 15, 2020
Outbreak of COVID-19 crisis has dented demand in the Africa, Middle East and SouthAsia (AMESA) region, affecting sales in volumes and net revenue, PepsiCo said.
Recently, PepsiCo recounted a double-digit decline in its beverage and snacks sales in India after the corona-attack and following lockdown. During the April-June 2020 quarter, the company’s beverage sales in Africa, the Middle East and SouthAsia (AMESA) regions declined 25 percent straight.
“Beverage volume declined 25 percent, reflecting double-digit declines in India and Pakistan, a low-single-digit decline in Nigeria and a high-single-digit decline in the Middle East,” the company replied in its earnings statement.
Outbreak of COVID-19 crisis has dented demand in the Africa, Middle East and SouthAsia (AMESA) region, affecting sales in volumes and net revenue, PepsiCo said.
While the other markets in the region recorded a surge in sales of snacks, India reported a double-digit decline, PepsiCo informed.
“Snacks volume grew 117 percent, primarily reflecting a 124-percentage-point impact of the Pioneer Foods acquisition, mid-single-digit growth in the Middle East and Pakistan and low-single-digit growth in South Africa, partially offset by a double-digit decline in India,” PepsiCo said.
The company’s popular brands namely Pepsi, Doritos, Tropicana, Lays recorded a 3 percent drop in overall net revenue to $15.95 billion during the April-June quarter.
The closure of cinema halls, malls, cafes, restaurants and hotels caused a plunge in the out-of home consumption since people stayed at home during the COVID-19 outbreak. Some areas faced shortage of the brand’s presence with empty shelves.