Companies offer deep discounts on beverages, snacks to clear shelves
A senior executive with a leading retail chain, which also runs a widely used online app, said price reductions will continue until brands are able to clear out old inventory.
Synopsis
Several items are being sold at a third of their price tags online, among the steepest cuts in the beverage and snack categories, according to industry executives. Discounts had fizzled out after beverage and snack companies saw a strong recovery in the last quarter and, in turn, built a strong inventory pipeline for summer just before states were forced to impose closures due to the second wave. ....