Carabao aims to be No.1 energy drink
Carabao Group aims to become the leading energy drink producer this year despite challenging economic conditions, including sluggish growth and rising household debt in Thailand.
According to CEO Sathien Sathientham, the country's economic boom seems a thing of the past, with growth expected to linger around 1-3%. Thai household debt reached 90.9% of GDP in Q3 of 2023, impacting consumer purchasing power.
The company has also introduced five beer products, targeting a 10% share of the beer market, despite a drop in revenue in some overseas markets due to the pandemic and political crises, like in Myanmar.
However, Cambodia remains a bright spot for Carabao's energy drinks and beer, despite post-pandemic revenue drops from 6-7 billion baht to around 4 billion.
To enhance its competitive edge, CBG has priced its Carabao Dang energy drink at 10 baht per bottle, underpricing rivals to increase its market share from 25% to a targeted 27-28%. This strategy supports its goal to lead Thailand's energy drink sector by the year's end.
The company has also introduced five beer products, targeting a 10% share of the beer market, despite a drop in revenue in some overseas markets due to the pandemic and political crises, like in Myanmar.
However, Cambodia remains a bright spot for Carabao's energy drinks and beer, despite post-pandemic revenue drops from 6-7 billion baht to around 4 billion.
To enhance its competitive edge, CBG has priced its Carabao Dang energy drink at 10 baht per bottle, underpricing rivals to increase its market share from 25% to a targeted 27-28%. This strategy supports its goal to lead Thailand's energy drink sector by the year's end.
