Luma Drinks: A Case Study in the Challenges of Emerging Beverage Brands
Challenges Faced by Luma Drinks in the Beverage Industry Despite its appearance on “Shark Tank,” Luma Drinks’ net worth remained a modest $600,000 USD as of 2022. Its journey highlights several obstacles that emerging beverage brands encounter: Tough Competition: The beverage industry is a highly competitive landscape, dominated by giants like Coca-Cola and PepsiCo. Luma Drinks faced difficulties in differentiating itself and gaining market share. Lack of Differentiation: Luma Drinks struggled to establish a unique selling proposition that would set it apart from existing non-alcoholic beverage options....