Last year, energy drink company Monster Beverage Corp’s global sales reached a record $7 billion as consumers showed no concern about price increases for its products.
Likewise, Monster Beverage Corporation had an increase in net sales during the fourth quarter of 2023, reaching a record US$1.73 billion, an increase of 14.4% over the previous year.
This success is due, in part, to its effective pricing strategy and the reduction of input costs. Although there was a decline in their market share in certain channels and regions, they achieved impressive growth in other countries such as Brazil and Argentina. International sales represented 36.8% of total net sales and the company is focused on expanding further in markets such as China and India by launching new products.
For the fiscal period ended December 31, 2023, Monster Beverage reported total sales of $7,140.03 million, compared to $6,311.05 million earned in the prior year. Despite the price increases, it appears that foreign consumers were not affected and continued to purchase Monster Beverage products.
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