• PepsiCo will reduce snack prices by up to 15% due to consumer feedback on rising costs.
• The price cut is timed to coincide with the Super Bowl, a key sales period for snacks.
• Packaging and product sizes will remain unchanged despite the price adjustments.
• PepsiCo is adapting to changing consumer preferences influenced by weight-loss drugs.
• Overall sales growth is being impacted by a decline in food item volumes sold in North America.

PepsiCo has announced it will cut the prices of its popular snacks, including Cheetos, Doritos, and Lay's, by up to 15% in response to consumer complaints about higher costs, according to NPR and CBS News. This decision comes as consumers have expressed their struggles with affordability amid rising living costs, prompting PepsiCo to act ahead of the upcoming Super Bowl, a significant event in the snack market.

The company stated that the new retail prices will start appearing in stores this week, aiming to provide "relief" for consumers facing budget pressures, as noted by BBC and CBS News. Despite several recent price hikes, PepsiCo is now incentivizing customers to return to brand products, which have seen a drop in sales volume in North America. CEO Ramon Laguarta emphasized the importance of affordability to boost demand during a call with investors.

PepsiCo has recalibrated its strategy due to evolving consumer appetites, especially with the rise of appetite-suppressing weight-loss medications that have affected snack consumption. As consumers turn to healthier options, the firm is also adapting its product line, stating that the packaging, ingredients, and taste will remain the same even as prices fall, reports BBC and NPR.

This pricing strategy is highly significant for PepsiCo, given that it involves a wide array of their snacks. The strategy reflects the company's ongoing commitment to remain competitive in a challenging market influenced by external factors such as inflation and shifting consumer preferences, according to NPR and CBS News.