Coca-Cola and Pepsi Are Both Losing Millennial Fans

The battle between Coca-Cola and Pepsi just found some common ground. Fans of both cola brands are quite different in terms of education and political leanings, but both are skewing older, according to new data from ecommerce and consumer analytics provider Connexity. Coke and Pepsi have both expanded their beverage portfolios beyond soda and introduced smaller package sizes to appeal to younger audiences who are drinking less soda. "Coke tends to have a younger audience than Pepsi, but they're both failing to reach younger consumers," she said. "Younger consumers are more health-conscious, so both of them are in this arms race to get the attention of millennial consumers. I don't think either of them are doing it perfectly yet." Check out more of Connexity's data on the demographics of Coke and Pepsi drinkers below: Pepsi overindexes with Left Out Democrats by 12 percent, while underindexing with Uninvolved Conservatives by 16 percent and Ultra Conservatives by 11 percent. Conversely, Coke overindexes with Mild Republicans by 21 percent and Ultra Conservatives by 10 percent, while underindexing with Conservative Democrats by 11 percent and Left Out Democrats by 10 percent. Pepsi audiences are much more likely to be low-income: Pepsi customers are 28 percent more likely than the average person to earn under $20,000 a year, while Coke customers are 20 percent less likely to earn under $20,000 a year. Pepsi customers are 16 percent more likely than the average person to be self-confessed "TV addicts," while Coke customers are 12 percent less likely to be.