The French retail giant Carrefour believes that the increase in the price of Pepsi is unacceptable, which is why several products of the US food company are no longer found on supermarket shelves.
Carrefour operates in more than 30 countries, the company owns thousands of stores. Carrefour has announced that it will stop selling Pepsi products in its stores in France, Italy, Spain and Belgium.
Carrefour will no longer sell Pepsi products such as Lay’s, Doritos, Cheetos, Lipton and Pepsi soft drinks, the Wall Street Journal reported.
Pepsi has raised prices for two consecutive years, in October the company announced that price increases will slow in 2024. The company claims that the increase in product prices is linked to accelerating inflation. Pepsi’s revenue is expected to grow nearly 13% in 2023.
The European market accounted for about 14% ($9 billion) of Pepsi’s global cash flow in the first nine months of 2023. Callum Elliott, an analyst at financial firm Bernstein, said Pepsi earned 0.25% of its turnover in Carrefour stores.
In France, the price of food has increased significantly in recent years. This is causing anxiety among consumers and politicians alike. Some officials and retailers believe food manufacturers are taking advantage of rapid inflation.
Manufacturers began raising prices already during the pandemic. Demand for more expensive goods remained, and food manufacturers responded better to inflation than retailers. US retail giants are now also worried about price increases by manufacturers.
2024-01-05 09:15:00
retail-giant-pulled-pepsi-products-from-shelves-in-protest-over-price-hikes-foreign-country