Creative and media agencies, such as Wieden+Kennedy, Anomaly, and McCann, will be scrutinized as the brand reevaluates its marketing investments. Last year, Coca-Cola spent an estimated $4.2 billion on advertising, making it one of the top 20 largest advertisers worldwide, per
. A significant share of this budget will be up for grabs during this review, which will begin in Q1 2021.Global rather than individual market strategies. The announcement follows Coca-Cola's to remove a significant share of its 400 brands—cutting products that only sell in select regions in favor of globally appealing ones. The company will likely favor agencies that can similarly scale across multiple countries, as opposed to hyperlocal agencies.
An emphasis on digital content production and technology. The pandemic has accelerated shifts in consumer habits to digital, and Coca-Cola has been realigning its efforts to match. In June, Coca-Cola