There’s an old expression in racing that goes ‘Win on Sunday, and sell on Monday’. Turns out that couldn’t be more true for Red Bull, but how does racing convert into sales? Let’s get into it.
First, let me just say I’m not only a big fan of Red Bull’s drinks, but I’m a huge Formula 1 fan of the Oracle Red Bull Racing team. Ok, now that I got that out of the way, let’s talk about the impact that the Red Bull Formula 1 race car has on the parent company Red Bull’s sales.
According to the Oracle Red Bull Racing team’s principal and CEO Christian Horner the team’s dominance in Formula 1 this year is translating directly to higher sales of the energy drink
Out of 20 races this season, Oracle Red Bull Racing have won 19 of them, with Max Verstappen winning 17 of those races, with his team mate Sergio Perez winning the other 2 races for a clean sweep by the Oracle Red Bull Racing team in 2023! A simply amazing showing for the energy drink sponsored team.
Red Bull is the second-most popular energy drink brand in the world with 13% market share, trailing only Monster Beverage who commands a 30% market share. Red Bull sold an insane 11.58 billion cans worldwide in 2022, which was an increase of 18% from their already incredibly successful 2021.
While Red Bull declines to reveal their sales metrics following a race weekend, a company spokesperson has mentioned that they see a clear “uplift” in sales following a Formula 1 race weekend in the corresponding race market. I guess Formula 1 does give Red Bull wings.
Red Bull F1 dominance boosts energy drink sales, team’s principal says