It’s the political-economic issue that’s been gripping the country: shrinkflation in our favorite snacks. Big, greedy corporations thought they could keep prices steady while putting less product in the package, and us consumers wouldn’t notice. To those companies I say: underestimate my attention and devotion to potato chips at your own peril. And I am not alone! We the people have peered into the tired, the sparse, the lonely potato chip bags yearning to be filled, and we will not be quiet in the face of this injustice. We’re mad as hell and we’re not going to take this anymore, and the president has our back! Well my munching friends, savor the salty smell of success: PepsiCo, the company behind staple brands including Doritos, Lay’s, Ruffles, and Tostitos, announced on their recent earnings call that they will be adding “20% more chips to select bonus bags of Tostitos and Ruffles.” Victory! …for an undisclosed amount of bonus bags? Please tell me what I’m missing:
Chip lovers, rejoice!
PepsiCo, the maker of popular chip brands including Doritos, Lay’s, Ruffles, Tostitos and more, will be adding more chips to certain bags, a company spokesperson revealed during a recent earnings call.
The brand will add 20% more chips to select bonus bags of Tostitos and Ruffles, and it will also include two additional bags in variety packs, bringing the total number of bags to 18.
The move by PepsiCo. comes after the multinational food and beverage company was criticized for reducing the amount of product sold without a corresponding reduction in price — also known as “shrinkflation.”
Bank of America analyst Bryan Spillane told CNBC during a June interview that the price of salty snacks has increased by “20% or greater” over the last four years.
Additionally, consumers are increasingly switching to generic brands over name brands in order to save money amidst rising costs and smaller sizes, he added.
According to FOX News, in a recent earnings call, Pepsi CEO Ramon Laguarta acknowledged that inflation has impacted consumer spending patterns. He also said football season means, “There’s a lot of gatherings.”
TD Cowen analyst Robert Moskow told CNN that he expects other popular food and snack brands to also start adding more product to their packaging — without increasing prices — to address this issue.
Shrinkflation has become such a point of concern for so many Americans that President Joe Biden even mentioned it in his 2024 State of the Union address, saying, “It’s called shrinkflation. You get charged the same amount and you got about, I don’t know, 10% fewer Snickers in it.”
I’m sorry, but I cannot in good conscience rejoice quite yet. This is some careful, highly suspect wording, yes? I wondered if it was just People Mag’s reporting, but no. I’ve read other coverage and the wonky language is there, except some outlets had additional quotes about PepsiCo not wanting people to go through football season without chips. How benevolent of them. So unless and until PepsiCo elaborates on their plan, it seems to be that the 20% bump will happen only for Ruffles and Tostitos, and even then it’s not across the board, but only in the vague “select bonus bags.” And variety packs are getting two extra bags in a set. Is it me, or have we entered a Willy Wonka contest in the land of snack chips? “Who will find the lucky 20%-more-filled Ruffles?!” This isn’t a game, PepsiCo! When I got nauseous with car sickness, potato chips were there. When I was a lonely college freshman who hadn’t yet found her people, potato chips were there. And when I lost my beloved dog My Girl after 11 years together you better believe potato chips were there! So in protest I’ll be sticking with my current favorites which aren’t PepsiCo anyway: Kettle Salt & Pepper and Good Health Avocado Oil & Sea Salt. We’ll know things have gotten truly desperate if I’m forced to reconsider my stance on Pringles.
Photos credit: Esma Atak on Pexels and via Instagram