At least it has the Slurpee... Pepsi isn’t just the soda you order when they don’t have Coke — it's a multinational snack beast. It owns the four big Os of snacking (Cheetos, Doritos, Tostitos, Fritos...and Lay's). It also owns Quaker Oats, and random airplane favorites like SmartPop, Sun Chips, and Sabra hummus. Thanks to pandemic snacking:
Big hemp energy... Since the 2000s, sales of full-calorie soda in the US have plummeted. So Pepsi has been leaning harder into "functional beverages." Functional = providing more than just sugar/alcohol, enhanced by a healthy(ish) touch. Think: vitamin-packed energy drinks and enhanced waters. This year, Pepsi partnered with Beyond Meat for plant-based snacks and drinks. Another example of its functional focus:
Functional = marketing markup... People graviate toward products they think make them healthier and/or more productive. Companies like Pepsi know you're willing to pay more for the "functional" alternative (even if that’s just one unpronounceable ingredient). So they're doubling down on it, especially in marketing. From Bud's hard green tea and coconut water, to Sephora's CBD-infused body oils and hair gummies — the fashion is in the function.