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Podcast: γ¬γ’γΈγ§γθ±δΌθ©± Daily News Article Podcast
Episode: PepsiCo plans price cuts as demand for its drinks and snacks slips
Description: PepsiCo is cutting prices on Lay's, Doritos, Cheetos, and Tostitos chips this year to win back customers exasperated by years of price hikes.
βFor some consumers, low- and middle-income consumers, the biggest friction they have today in our category... is affordability,β PepsiCo Chairman and CEO Ramon Laguarta said during a conference call with investors. βSo, we have been testing multiple ways to give them affordability.β
PepsiCo has leaned on price increases as the cost of packaging, ingredients, and transportation rose. In the fourth quarter, PepsiCo hiked prices by 4.5% globally. Prices for PepsiCo beverages rose 7% in North America, while prices for the comp...