The price of Lay’s could go down as much as 15%|Mike Mozart|CC BY 2.0

The maker of Lay’s and Doritos, PepsiCo, is officially dropping prices of its chips “by up to nearly 15%,” as early as the Super Bowl weekend.

The timing of the price cuts is strategic, as the Super Bowl is one of the biggest snacking days in the US.

The move comes after years of consumer complaints about the high price tags of its salty offerings. CEO Ramon Laguarta said it made many people, especially low- and middle-income shoppers, either ditch the brand or opt for lower-priced options.

It is also notable that the decision comes as the company navigates pressure from activist investor Elliott Investment Management and a reported 1% dip in North American sales volume.

To further stabilize its business, PepsiCo is also trimming its product lineup by 20% while pivoting toward health-conscious trends, such as protein-filled Doritos and Lay’s chips cooked in avocado oil.

Another major snack maker, General Mills, has also said it plans to discount two-thirds of its offerings, including Cheerios, Betty Crocker, and Annie’s.