The new suggested retail prices begin rolling out in the United States this week, the company said on Tuesday
Following a consumer backlash against several previous price hikes, PepsiCo has said that it will cut prices on core brands like Lay’s and Doritos by up to 15 per cent. The new suggested retail prices begin rolling out in the United States this week, the company said on Tuesday.
“We have spent the past year listening closely to consumers, and they have told us they are feeling the strain. Lowering the suggested retail price reflects our commitment to help reduce the pressure where we can. Because people shouldn’t have to choose between great taste and staying within their budget,” stated Rachel Ferdinando, Chief Executive Officer (CEO), PepsiCo Foods US.
The price cuts will be applicable to the company’s key brands like Lay’s, Doritos, Cheetos, Tostitos and more. The company pointed out that since retailers determine their own retail prices, what consumer see in‑store may vary. “But PepsiCo is committed to making your favorite snacks more accessible, every day,” it added.
“Lowering prices is one step, an important one, in our commitment to deliver for consumers and strengthen our brands for the future. We will continue listening, learning and taking action to keep our consumers at the center of everything we do,” Ferdinando added.
This pricing change is part of PepsiCo’s broader strategy to increase accessibility and offer more choices for consumers, the company said in an official statement. Alongside the new suggested retail prices, it is continuing to refine its portfolio.
