Global supermarket giant pulls Pepsi products from shelves over prices

[KARAH RUCKER]

HIGH INFLATION ISN’T ONLY A BURDEN FOR CUSTOMERS.

BUT NOW – COMPANIES ARE BEING PUNISHED OVER THEIR HIGH PRICE TAGS.

ONE OF THE WORLD’S LARGEST GROCERY CHAINS HAS DROPPED PEPSI AND LAYS  –

BECAUSE THEY SAY ITS NOT FAIR FOR THEIR CUSTOMERS TO BE STUCK WITH THEIR HIGH STICKER PRICE.

CARREFOUR IS A FRENCH BASED GROCERY GIANT THAT HAS MORE THAN 14-THOUSAND STORES WORLDWIDE.

THEY ARE PULLING SOME PEPSI AND LAYS PRODUCTS FROM STORE SHELVES IN 9-THOUSAND STORES ACROSS FRANCE, ITALY, SPAIN, AND BELGIUM.

IT’S ALL DUE TO WHAT THE GROCERY CHAIN CALLS “UNACCEPTABLE PRICE- INCREASES”.

IN A STATEMENT PEPSICO SAYS 

“WE’VE BEEN IN DISCUSSION WITH CARREFOUR FOR MANY MONTHS AND WE WILL CONTINUE TO ENGAGE IN GOOD FAITH IN ORDER TO TRY TO ENSURE THAT OUR PRODUCTS ARE AVAILABLE.

THE GROCERY STORE – IS GETTING HIGH PRAISE FROM SOME CUSTOMERS –

WHO HAVE BEEN PAYING PRICE HIKE AFTER PRICE HIKE FOR **YEARS.

Edith Carpentier: “IT DOESN’T SURPRISE ME AT ALL I THINK THERE WILL BE LOTS OF PRODUCTS LEFT ON THE SHELVES BECAUSE THINGS HAVE BECOME TOO EXPENSIVE.”

[KARAH RUCKER]

PEPSI HAS HIKED PRICES FOR SEVEN QUARTERS IN A ROW NOW.

AND DESPITE REPORTING A 2.5-PERCENT SLUMP IN SALES —

 THE COMPANY REPORTED A 14-PERCENT SPIKE IN ***PROFIT –ACCORDING TO DATA FROM 20-23.

SO ALTHOUGH LESS PRODUCTS ARE BEING SOLD – THEY’RE STILL MAKING MORE MONEY.

AND IN 20-24, PEPSI-CO EXECUTIVES SAY, CONSUMERS SHOULD EXPECT PRICE INCREASES IN LINE WITH INFLATION – 

AS THE COMPANY SAYS IT IS PAYING MORE FOR THINGS LIKE GRAIN AND COOKING OIL.

THE GROCERY CHAIN NOW BANNING PRODUCTS OVER THEIR HIGH PRICES HAS BEEN SPEARHEADING EFFORTS TO PROTECT CONSUMERS FROM LARGE COMPANIES –

THIS BEING JUST ONE TACTIC.

IN 20-23 THEY BEGAN A “SHRINK-FLATION” CAMPAIGN –

PUTTING WARNING SIGNS ON PRODUCTS THAT HAVE SHRUNK IN SIZE –

BUT COST MORE.