Moreover, with some consumers having to cut back on discretionary purchases, shareholders will be watching closely to see if PepsiCo suffers from shoppers substituting generic store brands for its name-brand products. In the food and beverage arena , PepsiCo (NASDAQ: PEP) will have a lot to say about some of the inflationary pressures that its customers are facing. Will PepsiCo stay fizzy or fall flat?