Americans drank 3% less soda
in 2008 - the biggest pop-drop on record. Coke's (KO
) volume was off 2.5%, while Pepsi's (PEP
) fizzled by 6.5%. Their diet drinks fared even worse, down 3% and 7.5% respectively. Frugal consumers are drinking less, and cutting back even more on expensive name brands.