Beyond Meat is planning a price increase

By: Trademagazin Date: 2024. 02. 28. 11:02

Beyond Meat, the company known for its plant-based meat substitute products, plans to introduce new strategic steps. The company’s sales numbers are down, so Beyond Meat has decided to take two key actions to reinvigorate its business.

One of the moves, which Business Insider reported, is drastic cost cutting. The company is trying to rationalize and make its operations more efficient in order to improve its current market position. The company needs to respond quickly to sales challenges, and cutting costs is one way to do that.

Another important step is the introduction of a price increase. According to Beyond Meat’s plans, the price increase will take place at the beginning of the second quarter, as a result of which the company expects that the margin of the products will increase. Increasing the margin can on the one hand help compensate for the decrease in income caused by cost reduction, and on the other hand, it can contribute to the increase of the company’s profitability.