Basak Karaca, Head of Franchise Operations for the Central Asia and Caucasus region at Coca-Cola since December 2018, previously held senior marketing roles at Procter & Gamble and Ulker. With extensive experience in strategy and business development, she founded a successful consulting firm in 2017.

In a recent conversation with The Global Woman Leader Magazine, Basak discusses the future of sustainability and profitability convergence in emerging markets, emphasizing strategies to align environmental goals with diverse consumer needs. She explores leveraging data analytics for FMCG initiatives promoting education and women's empowerment.

As a seasoned leader in FMCG, how do you foresee the intersection of sustainability and profitability evolving in the next decade, particularly in emerging markets where there's a significant focus on reaching low-income consumers?

Sustainable businesses create value and sustainable practices ensure consumer trust and open new opportunities, ultimately driving long-term financial performance and competitive advantage. At The Coca‑Cola Company, our sustainability goals and initiatives are anchored by our purpose — to refresh the world and make a difference and are core to our growth strategy. We continue developing a portfolio of loved beverage brands while building a more sustainable future for our business, communities, and planet. This sometimes requires investment decisions made in collaboration with our bottling partners, and we fully understand that business resilience must be grounded in sustainable solutions. Innovations in packaging, like fully recyclable, lightweight materials, and the adoption of renewable energy sources in production processes can reduce environmental impacts. Simultaneously, initiatives aimed at community development and enhancing supply chain resilience will foster goodwill and secure long-term customer loyalty, ultimately driving business impact.

As per your expertise in marketing and innovation, what novel strategies do you believe can effectively bridge the gap between environmental sustainability and consumer demand, especially in regions with diverse socio-economic backgrounds?

Addressing key environmental and social risks and demands in production and development of new products, as well as conducting marketing campaigns that highlight tangible benefits of sustainable practices, create awareness about our sustainability efforts, and engage consumers in a participatory manner can help to bridge this gap. An example would be how we as The Coca-Cola Cola Company work with communities to use our scale to address global challenges and create a force for good. We grow our business in ways that help to achieve positive change in the world and build a more sustainable future for our planet. We start with data. We follow the science and make decisions on Environmental, Social and Governance (ESG) matters based on data and where we can be most effective.

For example -water, packaging and climate challenges are interconnected, and so are the solutions we support. We start with water because it is essential to every person and ecosystem, and it’s the main ingredient in our products. We aspire to give back as much water to nature and communities as we use in our products. We design our packaging to enable the circular economy. Our World without Waste commitment includes a goal to recover a bottle or can for each one we sell by 2030.

Our latest marketing campaigns explicitly highlight the need to recycle. The most recent “Recycle Me” campaign in the U.S. features distorted iconic Coca-Cola logo designs that represent the shapes of beverage cans crushed by consumers before discarding them into a recycling bin.

We also leverage digital platforms to enhance brand loyalty and drive consumer demand toward sustainable options. In Kazakhstan, one of our largest but still developing markets in Central Asia, we have supported a local recycler in opening waste collection stations where consumers can bring their packaging waste and earn points which they can exchange for our beverages and corporate souvenirs through a mobile application.

Given your experience in leading organizational restructuring and change agendas, what innovative approaches do you believe are essential for FMCG companies to adapt to rapidly evolving consumer preferences, technological advancements, and sustainability imperatives?

Flexibility and innovation, which includes fostering a culture of continuous learning and agile response mechanisms that allow the company to pivot quickly.

The Coca-Cola Company is always innovating and exploring the future of best-in-class brands and experiences. Innovation powers our company’s approach to bring to market more of the great-tasting drinks people want in smart, responsible ways that positively impact our business, communities, and planet. The constant pursuit of innovation puts consumers at the heart of our initiatives and extends across our business from our ever-evolving portfolio of beverages and marketing transformation to operational processes and the programs and partnerships that drive our sustainability progress.

When you take on that mindset, you can apply it into all aspects of the business. Staying ahead of the curve requires constant invention and reinvention, with an understanding of what’s happening in the marketplace. In recent years, we’ve raised the bar for our innovation agenda with an intentional focus on strategic, data-driven experimentation and agility.

How can FMCG brands effectively communicate their commitment to sustainability without compromising brand identity or consumer appeal, particularly in markets where traditional marketing strategies may not resonate?

They can do so by integrating it into their brand values in an authentic and relatable manner. This involves bringing forth real stories about environmental and social impacts of initiatives, rather than merely stating facts or figures. Utilizing the right platforms and opinion leaders can help convey the message in a way that resonates with different market segments. Additionally, brands can leverage interactive media to engage both employees and consumers in sustainability efforts, making them feel part of a larger movement.

In several geographies, including Eurasia and Middle East, and the Greater China and Mongolia region, Coca-Cola has a very effective engagement platform named “WeCare”, which connects company-supported sustainability projects with employee volunteering initiatives, driving awareness and socio-innovative thinking.

Your focus on winning with low-income consumers, how do leaders approach product development and marketing strategies to ensure accessibility and affordability without compromising quality or brand integrity?

We at Coca-Cola ensure accessibility and affordability through a strategic blend of product innovation, quality control, cost management, and targeted marketing. We start with consumer insights to drive product development, resulting in a diverse portfolio that includes various options catering to different tastes and dietary needs. Stringent quality control measures are maintained globally to ensure consistent taste and high standards. Strong relationships with suppliers also play a key role in securing high-quality raw materials and ensuring reliable manufacturing practices. Coca-Cola utilizes advanced technologies to enhance production and quality efficiency. This enables us to offer competitive products without compromising on quality.

In marketing, Coca-Cola uses dynamic pricing models that consider regional economic conditions, allowing for price adjustments that maintain affordability. Our extensive distribution network supported by local partnerships ensures widespread product availability, including in remote areas.

Coca-Cola’s marketing strategies are tailored to local cultures, enhancing relatability and acceptance. Global campaigns reinforce core brand values, creating a unified brand image, whereas localization elements ensure local relevance. Additionally, our sustainability initiatives strengthen brand integrity and appeal to eco-conscious consumers.

Overall, our holistic approach balances innovation, quality, and targeted marketing to ensure products remain accessible and affordable, upholding brand integrity and consumer loyalty.

In your view, how can FMCG companies leverage data analytics and consumer insights to drive meaningful social impact initiatives, such as those focused on education and women's empowerment?

I like initiatives that pursue long-term goals, such as our projects “My Sister” in Turkey and “Steppingstones” in Kazakhstan, developing entrepreneurship among women and upskilling youth. Nation-wide initiatives help to develop communities at large, however it’s also possible to focus on local communities by identifying and understanding the unique needs and preferences of different consumer segments. This involves collecting and analyzing data on purchasing behaviors, preferences, and socio-economic indicators. By integrating these insights with environmental and social impact data, companies can develop targeted initiatives that address specific community needs, such as educational programs for children in underserved areas or empowerment initiatives for women. Moreover, measuring the impact of these initiatives through data analytics enables companies to refine their strategies and maximize social impact, fostering a positive brand image and customer loyalty.