Pepsi vs. Coke has been debated in American homes for decades, but now that debate is being squashed by one of the world’s largest supermarket chains over price hikes. Carrefour, a French-based grocery giant with more than 14,000 stores worldwide, said it is pulling some Pepsi and Lays products from shelves in 9,000 stores across four countries.
- France.
- Italy.
- Spain.
- Belgium.
The grocery chain said it has decided to pull some PepsiCo products because of “unacceptable price increases.”
“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,” PepsiCo said in a statement.
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Reuters reported that customers in Europe backed the supermarket chain’s move.
“It doesn’t surprise me at all,” Edith Carpentier told Reuters. “I think there will be lots of products left on the shelves because things have become too expensive, and they are all things we can avoid buying.”
American-based PepsiCo hiked prices seven quarters in a row. Despite reporting a 2.5% slump in sales due to the hikes, the company reported a 14% spike in profit, according to data from 2023.
PepsiCo executives said consumers should expect price increases in 2024 that align with inflation, as the company says it is paying more for things like grain and cooking oil.
Carrefour has spearheaded efforts to protect consumers from large companies and price hikes. In 2023, the supermarket chain began a “shrinkflation” campaign, putting warning signs on products that have shrunk in size but cost more.
