By Ralph Tathagata

Carrefour, a French retail giant with over 12000 outlets worldwide, said it will no longer sell Pepsi and 7up. The decision is in protest against what it described as “unacceptable” price rises amid cost of living crisis.

Across Carrefour’s shelves once stocked with PepsiCo drinks will be now accompanied by a note that reads: “We are no longer selling this brand due to unacceptable price increases.”
However, the grocery giant said the signs will only appear in Carrefour stores in Europe, including France, Italy, Spain and Belgium.

The retail giant said it is unclear whether it will remove PepsiCo products already on shelves or if customers will still be able to buy items currently on display.

It would be recalled that PepsiCo has repeatedly raised the prices of its food and drinks products in recent years, claiming it was necessary to offset inflationary pressures.

In October, PepsiCo lifted its 2023 profit forecast for a third time. Meanwhile, the food and drinks giant said during the same period that it will only roll out “moderate” price increases in 2024 amid concerns that higher prices could put off cost-conscious customers.

Hugh Johnston, formerly PepsiCo’s finance chief, said at the time: “I do think that we see the consumer being more selective.”

Labels were placed on 26 products in its French stores, which said: “This product has seen its volume or weight fall and the effective price from the supplier rise.”

Carrefour’s price warnings were made for a range of items, including Lindt chocolates and Lipton iced tea, in an effort to pressure suppliers such as Nestle, PepsiCo and Unilever to slash prices.

It’s not clear whether the standoff over price hike between global retail chains and consumer goods giants will spread to other continents/ countries and Fast-Moving Consumer Goods (FMCG) manufacturers.