Coca-Cola is giving the Powerade brand its first update in more than a decade and Shane Grant, President of the Still Beverage Division told Cheddar the time is ripe for change.
“What we’ve seen, really, in the sports trend market is some pretty fast evolution,” said Grant, adding, ”What we’ve seen is traditional core-sports drinks serving, what we think, is probably only a third of what we call ‘sweat moments.’”
Two of the new products will be called Powerade Power Water and Powerade Ultra. The company created the new sugar-free products as market research showed casual athletes are seeking out zero-calorie, water-based drinks.
The drinks will also feature shelf-stabilized creatine, which is supposed to provide energy to muscles. “Our data would show almost 70 percent of sports-drink users use some kind of supplement,” said Grant while noting that creatine use is growing at a high rate.
Grant told Cheddar there has been “pretty fast growth in casual athletic pursuit -- everything from running, jogging, CrossFit, to maybe biking.” He called that a “divergence of sweat moments.” Coupled with growth in what Grant called “high end, more endurance, more intense athletic activity,” Powerade saw an opportunity to create sports drinks to serve every type of user.
He believes the field will continue to grow as people become more active and Powerade hopes to play into that growth, deploying more marketing in 2020 ahead of the Tokyo Olympics.
The bank said it regrets its involvement with Epstein over the years that he was a JPMorgan client. The settlement must still be approved by the judge in the case.
Stocks are ticking higher on Wall Street early Monday ahead of a big week for central banks and interest rates around the world.
Billionaire investor turned philanthropist George Soros is ceding control of his $25 billion empire to a younger son, Alexander Soros, according to an exclusive interview with The Wall Street Journal published online Sunday.
UBS said Monday that it has completed its takeover of embattled rival Credit Suisse, nearly three months after the Swiss government hastily arranged a rescue deal to combine the country's two largest banks in a bid to safeguard Switzerland’s reputation as a global financial center and choke off market turmoil.
Gene sequencing test maker Illumina Inc. said Sunday that its board has accepted the resignation of its CEO and director, Francis deSouza, effective immediately.
“Any consumer can tell you that online airline bookings are confusing enough," said William McGee, an aviation expert at the American Economic Liberties Project. "The last thing we need is to roll back an existing protection that provides effective transparency.”
Cheddar News checks in to see what to look out for Next Week on the Street as former president Donald Trump makes an appearance in federal court after being indicted. Investors will also keep an eye on the Federal Reserve meeting to see what comes out of that while earnings continue to pour in.
Google will launch its long-delayed News Showcase product this summer.
Walmart is expanding its HIV treatments, planning to add over 80 specialty facilities across nearly a dozen states by the end of the year.
The Internal Revenue Service said there are about $1.5 billion in unclaimed tax refunds dating back to 2019.
