Coca-Cola is adjusting its pricing and pack strategy as consumer demand remains uneven across income groups.

Chief financial officer John Murphy said the drinks giant was working to keep its products both affordable and appealing, as some shoppers continue to feel the squeeze from inflation, fuel costs and wider economic uncertainty.

Speaking at the Deutsche Bank consumer conference in Paris, Murphy said the idea that consumers remain resilient was “a nuanced narrative”, adding that “they’re not all the same”.

He said some parts of Coca-Cola’s customer base were under particular pressure, especially shoppers earning between $50,000 and $60,000 a year.

“We have segments that are under pressure, and we have a choice to stay relevant with them or not,” Murphy said.

“The math is pretty obvious. It doesn’t work. They just don’t have the purchasing power.”

The soft drinks maker is leaning on a wider mix of pack sizes, formats and price points, ranging from smaller, lower-cost single-serve options to larger packs and premium products.

The approach is designed to give budget-conscious shoppers more affordable choices, while still serving consumers trading up into premium formats.

Murphy also said Coca-Cola was navigating disruption linked to the US-Israel war on Iran “not perfectly well, but without fear, without trepidation”.

“The outlook of the Middle East situation is still not clear,” he said, adding that it would remain a topic for the business going into 2027.

Coca-Cola raised its annual profit target in April after beating first-quarter expectations, with the business also working to manage higher energy-linked packaging costs.

Shares in the company were up around 1.5 per cent in pre-market trading following Murphy’s comments.

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