PepsiCo wants to seize new opportunities for consumption.
BOCA RATON, Florida: PepsiCo, Inc. executives are looking for ways to expand the mealtimes where the company’s snack brands are served.
During a presentation on February 21 at the Consumer Analyst Group of New York conference in Boca Raton, Ramon L. Laguarta, chairman and chief executive officer of Purchase, NY-based PepsiCo, stated, “More and more we’re experimenting with how Lay’s can substitute potatoes in many dishes around the world, how Doritos can be part of how you make a pizza.”
Despite being one of the biggest food and beverage companies in the world with an annual net revenue of over $86 billion, PepsiCo’s management believes there is still “a long runway for growth” and unrealized potential throughout the company’s portfolio.
“We wish to sell more of our items. more into meals, serving as both a side dish and a component of the preparation, according to Mr. Laguarta.
The speaker expounded on the company’s introduction of a food truck idea in Mexico, wherein customers are able to select various ingredients to prepare meals using the company’s offerings. Tosticentro, which takes its cue from the Tostitos brand, offers things like “walking tacos,” which are taco chips topped with toppings that can be consumed on the go.
Sports nutrition is another topic of interest.
Mr. Laguarta stated, “It’s Gatorade, but it’s also some other brands like Propel, Muscle Milk, Evolve, and some others.” “We are assembling that. We are incorporating customization. We are expanding that portfolio with science. Both liquids and solids are being added. Pre-game, in-game, and post-game content is being added. In order to empower the customer, we are providing them with a wide range of options. We will be available to offer solutions to customers that consider wellness to be extremely important in their life.
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PepsiCo, which is “testing and learning” with products like Hard Mountain Dew and Lipton Hard Iced Tea, could potentially explore the alcohol market.
“Positive choices,” according to Mr. Laguarta, are essential to PepsiCo’s portfolio transition. He mentioned lower-sodium snacks, sugar-free beverages, and “emphasizing a couple of cooking methods like baking or popping that are healthier for consumers.”