As inflation inches back up, Fly by Jing is cutting its prices.
The brand, known for its popular chili crisp, will lower its prices on its site and across all major retailers it sells through, including Target, Whole Foods, Safeway and Sprouts.
At the same time, Fly by Jing announced it will launch in more than 2,000 Walmart locations nationwide, significantly expanding its wholesale presence. The brand’s three best-selling products will be available at Walmart for $9.98. The move is part of Fly by Jing founder Jing Gao’s mission to bring the flavors of her home in Sichuan, China, to more households, according to a press release.
The price reduction comes as consumers feel the pressure of inflation, particularly when it comes to groceries. Food-at-home prices in March were up 1.2% year over year, according to Consumer Price Index data released last week by the U.S. Bureau of Labor Statistics. Overall inflation during the period was up 3.5% from the year-ago period.
The price reduction also comes in contrast to other brands that have opted to increase their prices to help offset inflation, as well as higher production and shipping costs. Paint brand Clare, Glossier, The Honest Company, Dr. Dennis Gross and The Ordinary have raised prices in recent years.
“In 2018, we were the first to make a 100% all-natural premium Chinese chili sauce that delivered the deep and complex flavors I know and love. For a small company, this does not come cheap,” Gao said in a statement. “We've worked extremely hard over the last 4 years throughout our supply chain to find efficiencies that have allowed us to significantly reduce our costs, which we are passing right along to our customers.”
Fly by Jing’s expansion into over 2,000 Walmart stores will also significantly increase the brand’s wholesale presence. Last September, the brand expanded to 1,200 Target locations after initially launching in about 400 of the mass merchant’s stores in 2021.
The brand, which launched in 2018, raised $12 million last March to help further grow its wholesale business with retailers like Albertsons and Kroger. The funding round was led by existing investor Prelude Growth Partners, as well as Pendulum. At the same time, Fly by Jing appointed Matt Dunaj as its chief financial and operations officer and Jason Parasco as its chief commercial officer.
To drive more brand awareness, Fly by Jing has collaborated with other popular companies, including Shake Shack, Panda Express, Our Place, Sun Noodle and Fishwife, which “contribute to a broader appreciation for diverse culinary traditions and encourage other food companies to prioritize cultural authenticity and representation in their products,” according to the company.
