Sticking with the financial argument, PepsiCo has fared better than Coca-Cola during the COVID-19 pandemic. Coca-Cola's sales declined 28 percent, due to the virtual disappearance of the business it normally does at restaurants, movie theaters, and sports stadiums (via The Wall Street Journal ). Meanwhile, PepsiCo's sales were flat, as Frito-Lay snacks made up for the drop in soda sales. Snack foods are one of the few business sectors doing well during the pandemic. While we've made the argument for Pepsi, we would like to conclude on a Coca-Cola-ish note, with an appeal to togetherness. When Buzzfeed conducted a blind taste test of Coke and Pepsi, tasters had a hard time telling the difference. They decided that people's preferences for one or the other were based more on brand identity. As it turns out, the two combatants in the cola wars are more about image than substance.