PepsiCo Cuts Chip Prices After Losing Over $1 Billion in Revenue

6 months ago by Katana314 to c/news

PepsiCo missed revenue targets by more than $1 billion two years running after chip prices crossed $7 a bag.
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BarneyPiccolo 41 points 6 months ago

“We’ve spent the past year listening closely to consumers, and they’ve told us they’re feeling the strain,” said Rachel Ferdinando, CEO of PepsiCo Foods U.S. “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.”

What a fucking liar. They spent the last couple of years trying to find ANY other solution besides lowering prices, and now they are lowering them AFTER losing a billion bucks, and trying to frame it as trying to help their customers. No they aren't, the bleeding has gotten so bad that they are now in a blind panic.

I stopped buying their overpriced crap long ago. At Aldi, you can get a decent sized bag of the best kettle-cooked chips I've ever eaten for less than $2. A tiny bag of Lays, 20% of the size of an Aldi bag, is $3 or more. Pepsico can go fuck themselves with their predatory prices.

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YiddishMcSquidish 12 points 6 months ago

As much as I will always have a purple shaped hole in my heart for the sweet chili flavor, I'm totally cool not ever eating them again. Every big company can suck my shriveled excuse for a phallice. I have seen that they will destroy anything and everything around them for a few extra hundredths of a percentage point in share prices.

Side note, homemade tortilla chips with a little sprinkle of a ranch seasoning packet+cayenne>>>Doritos cool ranch.

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deddit 7 points 6 months ago

I'm never buying Lays chips again, I haven't for over a year now. Never going back, they never needed to raise their price that much, greedy greedy greedy. They took the corpo idea of 'never leaving money on the table' and thought they could gouge us. They thought of us as stupid 'cattle' that would cower to their decades old brand. Fuck brand loyalty. Same thing for McDonalds, I haven't been back there in over 4 years and I'm NEVER going back. NEVER.

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Cherry 6 points 6 months ago

Yup. Once the routine is broken it’s broken. Living life without some stuff is actually easy and they have lost a customer for life.

I’ve boycotted a few brands in the last 3/4 years, and I expected to miss them more. But in honestly I feel proud at my resolve and now I just think urghhh I don’t need that crap. If I feel an urge I’ll get a no brand. Used to visit maccas fortnightly. Lucky is it’s once a year. I’ve been buying Mexican or European cola…if I have to have it.

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YiddishMcSquidish 5 points 6 months ago

Right there with you on McDonald's! I used to get a hot and spicy McChicken at least once every other week as a snack while running around. But after the staged bs with trump (not) serving all of 5 very obvious plants, they will not see another red cent from me!

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