That’s just one example of companies eliminating an endless assortment of products to boost profit.
Hormel is cutting some pepperoni products.
Cutting products boosted companies’ profit margins by 0.9% compared to 2019, L.E.K.
The strategy is going to make customers’ choices “a little simpler” and reduce re-stocking work for store employees, he said.
Companies can upset customers who are loyal to a specific version of a product, pushing them to switch to another brand or stores’ private-label versions.
Persons:
New York CNN — Pepperoni, Applegate, Jennie, Hormel, ”, That’s, Gene J, Rob Wilson, Levi’s, Todd Vasos, Scott Olson, Gina Goetter, Bob Eddy, Taco Bell, David Garfield, “ We’ve
Organizations:
New, New York CNN, CNN, Companies, L.E.K, Consulting, Starbucks, Hasbro, Dollar, BJ’s Wholesale, Walmart
Locations:
New York, Turkey, mayo, Asia