PepsiCo will reduce the prices of Lay's and Doritos products by up to 15% in response to consumer dissatisfaction and market pressure.

PepsiCo has announced a price reduction for its Lay's and Doritos products of up to 15%, in response to consumer dissatisfaction regarding recent price increases. The company stated that this measure comes after increased pressure from the market and consumer feedback, who have complained about the low affordability of the products. Rising inflation has led to a significant decrease in sales, and PepsiCo Foods US CEO Rachel Ferdinando emphasized that the company has listened to consumer opinions.

Additionally, CEO Ramon Laguarta mentioned that multi-pack offerings will be an important strategy for increasing sales. PepsiCo's shares have recently risen by 4%, in the context of pressures from activist investor Elliott Management and weak performance in the US.