May 20, 2020
PepsiCo — the $180 billion conglomerate that owns a wide assortment of food and drink brands — is feeling the coronavirus recession. People aren't buying their products in restaurants. They're not buying them in movie theaters. Same thing at stadiums, bars, and airports. Q2 is not looking great.
And so, to make up for it, they’re starting a startup. The goal is to sell snacks online, and just this week, they launched two new websites: Snacks.com and PantryShop.com.
These might not seem like a big deal, but actually it’s a huge step in PepsiCo’s larger plan to own the relationship with their customers. They’re capitalizing on the current environment to accelerate the timeline.
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