The steep decline in Coca-Cola advertising spend last year means major competitor PepsiCo invested more for the first time since 2000. This is according to a WARC Data analysis of company reports.
Coca-Cola cut its advertising costs by 35% to just $2.8bn in 2020, the lowest level since 2007. In contrast, PepsiCo maintained budgets, with advertising spend remaining at $3.0bn.
