What happened to ‘cloud computing’ references by beverage companies in Q2?
By Andy Morton
References to ‘cloud computing’ by beverage companies plummeted in the second three months of 2021 compared to the previous quarter, according to GlobalData.
Research into filings submitted by companies operating in drinks shows that mentions of the term declined by 68% in the three months to the end of June on Q1 2021. However, in the 12 months to June, the frequency of the appearance of ‘cloud computing’ in drinks company filings was 380% higher than in 2016, when GlobalData commenced its reference tracking of the industry’s key issues.
Of the 20 largest beverage companies, Pernod Ricard referred to 'cloud computing' the most between July 2020 and June 2021. GlobalData identified five cloud-related sentences in the group's filings. Coca-Cola FEMSA was second over the 12 months, followed by Taiwan-based Tingyi Holding Corp, which handles Starbucks' RTD portfolio in China, as well as Molson Coors Beverage Co and Moet Hennessy parent LVMH Moet Hennessy Louis Vuitton.
In the second quarter, drinks companies based in the US were most likely to mention 'cloud computing', with 0.04% of sentences in filings referring to the issue. In contrast, companies with their headquarters in Asia referenced the term in just 0.01% of sentences.
GlobalData analyses the text of annual and quarterly reports, ESG reports and other filings, to identify individual sentences that relate to disruptive forces - such as cloud computing - facing companies in the coming years. According to the data analytics and consulting group, companies that are investing in these areas will be better prepared for the future business landscape and to survive unforeseen challenges.
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