"After years of price hikes and numerous complaints, PepsiCo is finally listening to its customers. The maker of Doritos announced yesterday it will cut the cost of its most popular snacks "up to 15%" as early as this week to appeal to Americans feeling the pinch in a K-shaped economy. Now, the pain that comes with a bag of Flamin' Hot Cheetos will still exist after you eat them but less so when you're buying them. It's a new direction:"
"Market adjustment: PepsiCo CEO Ramon Laguarta said this was a direct response to low- and middle-income consumers either abstaining from snacks or purchasing cheaper store-brand options. The company was also barraged with complaints about high prices via voicemails and emails. No shrinkflation: Sizing will remain the same, but the new sales tag will be advertised at a lower price. The price reductions coincide with this weekend's Super Bowl, a big day for snacking."
PepsiCo will reduce prices on many top snack products by up to 15%, starting as soon as this week, to appeal to low- and middle-income consumers. Average PepsiCo prices rose about 4% over the past two years after double-digit increases in 2022–2023, and retail salty snack prices climbed 38% since 2020. CEO Ramon Laguarta cited consumers shifting to cheaper or store-brand options and a surge in complaints as drivers of the change. Package sizes will remain unchanged to avoid shrinkflation. The timing targets elevated snacking demand around the Super Bowl.
Read at Fortune
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