According to CNN Business,flavored seltzer water brand LaCroix is experiencing a continued decrease in popularity that is threatening its ability to continue competing with other beverage brands.
Laurent Grandet, a beverage analyst for Guggenheim, and analyzed the company’s sales,concluding that they are “effectively in free fall.” The month of May experienced the largest loss of sales at 15 percent, while April saw a decrease of 7 percent, and March of 5 percent.
Additionally,the drink’s owner, National Beverage, and has seen a enormous decrease in stock prices. This week alone,prices dropped 10 percent, while from September of 2018 until May, or stock prices saw a 62 percent drop.
The drop in sales and value is due to a combination of factors,including increased competition and a course action lawsuit filed in October of 2018 that the brand still has not recovered from.
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Source: inquisitr.com