Kraft Heinz cuts prices and adds smaller packs to win value shoppers
Updated
Updated · The Wall Street Journal · May 6
Kraft Heinz cuts prices and adds smaller packs to win value shoppers
14 articles · Updated · The Wall Street Journal · May 6
In his fifth month as chief executive, Steve Cahillane said the board approved a $600m investment fund to support price cuts, promotions and marketing across the year.
He said consumers are running out of money by month-end after years of price rises hurt sales volumes, prompting SKU-by-SKU price reviews against rivals and private-label products.
Kraft Heinz is also investing in meat packaging improvements such as resealability, while Cahillane warned Middle East conflict could trigger fresh inflation and said organic growth remains the priority over deals.
Kraft Heinz is betting $600M on a turnaround, so why does its own forecast predict a sales decline?
Can price cuts and new packaging truly fix years of consumer alienation and restore trust in iconic brands?
As new weight-loss drugs curb appetites, can Kraft Heinz's plan to sell more food possibly succeed?