PepsiCo & Walmart
Walmart is PepsiCo's largest retail customer, distributing Pepsi beverages, Gatorade, Quaker Oats, Lay's, Doritos, and the full Frito-Lay snack portfolio. Walmart accounts for approximately 13% of PepsiCo's $91B annual revenue. The snack and beverage categories are among Walmart's highest-volume sections.
Why it matters: PepsiCo's dual-category strategy (beverages plus snacks) gives it more Walmart shelf space and negotiating leverage than single-category CPG companies. Walmart's pricing requirements force PepsiCo to maintain efficient supply chains, which PepsiCo has executed through its direct-store delivery (DSD) system.