PepsiCo Inc. is cutting prices by as much as 15% for key brands, including Lay’s and Doritos, in a bid to lift sales by offering more affordable products.
The New York-based snacks and beverage company said reductions on suggested retail prices for marquee items are rolling out this week ahead of Sunday’s Super Bowl, while keeping sizes the same.
“We’ve spent the past year listening closely to consumers, and they’ve told us they’re feeling the strain,” Rachel Ferdinando, chief executive of PepsiCo Foods US, said in a statement. The company had said in December it planned to reduce prices on key brands.
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