PepsiCo reported a slight revenue drop to $27.78 billion in Q4, falling short of expectations due to high prices and shifting consumer preferences. The company observed a 3% decline in North American sales for Frito-Lay and beverages as prices peaked and demand decreased after years of increases. However, PepsiCo is refocusing on affordability and health trends by introducing promotions and investing in value brands. CEO Ramon Laguarta emphasized the growing consumer interest in healthier, portion-controlled snacks, stating confidence in revitalizing the North American market in 2024.
"Our strategy revolves around making our snacks more affordable and focusing on value packs and promotions to boost demand."
"Consumers are looking for smaller, portion-controlled snacks with healthier ingredients, and PepsiCo is well-positioned to meet that need."
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