Past its Prime? The Hype Around Prime Energy Drinks is Dying in the UK
Prime, the viral beverage brand started by influencers Logan Paul and KSI, became an overnight success after doing $250 million in revenue in 2022 and surpassing $1.2 billion in 2023.
But, in the first quarter of 2024, Prime sales in the UK were down 50% YoY, per NIQ data. The company’s UK sales for the period amounted to £12.8MM, well short of the £26.8MM it did in the same period last year.
Prime sales decline could be a simple lesson in psychology – people want what they can’t have.
When supply was limited, the drink was viewed as a rare commodity and, therefore, precious. Young people were posting TikTok and YouTube videos of their adventures through convenience stores to find it.
However, now that the UK market is flooded with supply, almost no kid wants it.
Another plausible explanation for the dip in sales could be increased competition, and the company's alleged false and deceptive representations of its drinks finally caught up with it. The U.S. FDA was investigating the company for high caffeine content in its energy drinks.
So, is Prime past its prime, or do Logan Paul and KSI have another TikTok challenge trick up their sleeve to reinvigorate growth?
