PepsiCo to Cut Prices on Doritos, Cheetos and Other Snacks by Up to 15% Ahead of Super Bowl

PepsiCo announced it is cutting the suggested retail prices of many of its popular snacks by as much as 15%, responding to customer complaints that chips and packaged foods have become too expensive.

The move impacts familiar brands including Doritos, Cheetos and Lay’s, with shoppers expected to start seeing lower prices on store shelves this week — just ahead of the Super Bowl, traditionally one of the biggest snack-buying weekends of the year.

PepsiCo Foods US CEO Rachel Ferdinando said the company spent the past year listening to consumers who reported feeling financial strain, adding that the price adjustments are meant to help ease pressure where possible.

While PepsiCo is lowering suggested prices, the company noted that retailers ultimately decide what customers pay, meaning savings may vary by store. CNN has reached out to major grocery chains including Walmart, Kroger and Target for comment.

The decision comes amid ongoing affordability concerns at grocery stores, where food prices have climbed steadily over the past several years. At the same time, major name brands have faced growing competition from lower-priced store alternatives.

PepsiCo also recently reached an agreement with activist investor Elliott Management, which had built a multibillion-dollar stake in the company. Part of that strategy includes boosting sales by improving value for customers.

According to PepsiCo, early testing of the lower prices showed increased purchase frequency and positive feedback from shoppers. North American snack sales had slowed in recent quarters, with volume declining by about 1%.

Alongside the price cuts, the company is rolling out new products aimed at changing consumer tastes, including protein-enhanced Doritos, fiber-focused popcorn and Lay’s chips made with avocado and olive oils.

Credit: CNN Newsource

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