Beyoncé made headlines after PepsiCo Inc. hired the diva to endorse the soda company in a multi-year deal for an estimated $50 million. There was the epic Super Bowl halftime performance (sponsored by Pepsi) that was just nominated for an Emmy. There was a commercial featuring a dancing army of self-replicating Beyoncés. They just wanted Beyoncé to turn Pepsi into Pépsi.
But was it worth it?
According to second quarter sales for PepsiCo Inc., it had a North American decline in sales in the “mid-single digits,” i.e., anywhere from four to seven percent. For a multi-billion dollar brand, that’s a significant amount of money.
It’s an ongoing trend for the soda beverage market in general. Americans, becoming more health-conscious, have been steering away from the sugary drinks towards more bottled waters, teas, and energy drinks.
What sets Pepsi apart from the competition (Coca-Cola and Dr. Pepper Snapple Group Inc. also reported declining sales), is its lucrative marketing dollars and revamped campaigns in recent years. Not even throwing $50 million at Beyoncé, even when she's hit her final Super Saiyan form, can keep the company from slipping. If she can’t save you, then who can?
If there’s a silver lining, at least they have Bey on payroll to sing the beverage off the premises. Pepsi, to the left, to the left, everything you own in the box to the left…