Just in time for the Super Bowl, PepsiCo is cutting the price of Doritos, Cheetos, Lay’s, Tostitos, and other snacks by up to 15%.
The move comes after consumers complained the chips were too pricey. “Our customers . . . have been honest with us about how rising everyday costs are making their daily decisions harder. Message received,” PepsiCo said in a statement.
“Lowering the suggested retail price reflects our commitment to help reduce the pressure where we can,” PepsiCo Foods U.S. CEO Rachel Ferdinando added.
The new discounted prices roll out this week, ahead of this Sunday’s big game, one of the biggest days for snack purchases. PepsiCo said supermarkets and other retailers ultimately set the prices for the chips, so the savings that shoppers see will depend on the store.
And no, you’re not imagining it: Grocery prices have increased. In one year alone they jumped 2.7%, from August 2024 to August 2025; and they’re up a reported 29% from 2020, according to the Federal Reserve Bank of St. Louis. That’s due to several factors, including inflation, weather events, and ongoing global supply chain issues, coupled with higher labor costs from the COVID-19 pandemic.
The food and beverage giant, like many of its competitors, has raised prices, hiking snacks by 1% and beverages by 7% in North America, which, along with the impact of GLP-1 weight-loss drugs, has only decreased consumer demand.
“This pricing change is part of PepsiCo’s broader strategy to increase accessibility and offer more choices for consumers,” Ferdinando said. “We’re continuing to refine our portfolio—from thoughtful recipe enhancements, like the removal of artificial flavors and colors from Lay’s and Tostitos, to packaging updates aligned with evolving consumer preferences.”
PepsiCo had previously agreed to lower prices and revamp its business, after activist investor Elliott Management demanded the changes after disclosing a $4 billion stake in the company this past September, CNN reported.
PepsiCo financials
PepsiCo’s fourth-quarter earnings, released on Tuesday, beat analyst estimates, with quarterly revenue coming in at $29.34 billion versus an expected $28.97 billion, and earnings per share (EPS) of $2.26 adjusted versus an expected $2.24.
Shares of PepsiCo (Nasdaq: PEP) were up over 3% midday on Wednesday, at the time of this writing, after closing nearly 5% higher the previous day.