Read previewBeyond Meat has unveiled details of a massive turnaround plan, including raising the prices of its plant-based meat, as it struggles with slumping sales.
Advertisement"This change in strategy does not reflect an abandonment of our long-sought price parity goal," Brown said, referring to the company's goal of making plant-based meat the same price as animal meat.
Some products, including those in grocery stores, would barely change in price, Brown said.
Misinformation about plant-based meat is 'scaring customers away'Beyond Meat posted net revenues for 2023 were $343.4 million, a decrease of 18% compared to 2022.
It attributed declining US sales to weak demand for plant-based products, as well as Beyond Meat offering more discounts.
Persons:
—, Ethan Brown, Brown, Lubi Kutua
Organizations:
Service, Business, Bosh
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