A network of supermarkets has announced that it will stop selling Pepsi and 7up in protest of “unacceptable” pricing increases.
Despite the crisis caused by rising living expenses, the French retail behemoth Carrefour announced that it intends to discontinue PepsiCo items.
The words “We are no longer selling this brand due to unacceptable price increases” will now be displayed on shelves that recently held PepsiCo beverages.
The grocery chain, which has over 12,000 locations globally, stated that the signs will only be seen in France.
According to a spokesperson, it’s unclear if PepsiCo products that are already on Carrefour’s shelves will be removed, or if customers would still be able to purchase the items that are on display.
In recent years, PepsiCo has hiked the pricing of its food and drink items on multiple occasions, citing the need to counteract inflationary pressures.
The company has increased revenue as a result of the higher prices, and in October it raised its profit projection for 2023 for the third time.
The owner of Gatorade and Mountain Dew, however, stated in October that it will only implement “moderate” price hikes in 2024 due to worries that greater costs might turn away budget-conscious consumers.
“I do think that we see the consumer being more selective,” stated Hugh Johnston, the former finance chief of PepsiCo, at the time.
Tensions between grocery chains and well-known consumer brands have been exacerbated by Europe’s high inflation.
Carrefour has decided to discontinue selling PepsiCo products after previously alerting customers to the dangers of “shrinkflation” with labels on its shelves.
In its French stores, labels bearing the following statement were applied to 26 products: “This product has seen its volume or weight fall and the effective price from the supplier rise.”
Carrefour sent price alerts for a variety of goods, such as Lipton iced tea and Lindt chocolates, with the intention of pressuring suppliers like Nestle, PepsiCo, and Unilever to lower costs.
