Twenty- or 30-odd years ago, before society as a whole was fully attuned to the hazards—physical and moral—of allowing kids to eat pretty much whatever they wanted, whenever they wanted, product development was a relative snap.
Media measurement technology firm General Sentiment released its newest brand analysis, the Fall 2010 Fast Food Industry Report. The report highlights the brands that made the most significant media impact online between September and November. Despite declining nearly 20 percent since the summer, Starbucks still topped General Sentiment’s Impact Value rankings, more than doubling the totals of second and third place brands McDonald’s and Burger King.
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Reporting by Blair Chancey, Sam Oches, Daniel P. Smith, Robin Van Tan, Barney Wolf & Lori Zanteson
1. BK Sold to Brazilian Investors
Becoming the decade’s biggest restaurant buyout, No. 3 burger chain Burger King Corp. was acquired by 3G Capital, a New York firm backed by Brazilian investors, for $3.3 billion in September. —BC
2. The Food Truck Obsession
According to a recent study by American Express Business Insights, ultra-affluent consumers increased quick-serve spending by 24 percent in the second quarter of 2010, as compared to the same quarter last year. Ultra-affluent customers are defined as those who charge more than $7,000 per month on their cards.
With Halloween approaching, it is hard to say who is more excited: kids eager to go trick-or-treating or businesses looking to explore frighteningly creative marketing strategies.
Though the green movement is well underway in the quick-service industry, some operators are finding that one green tool, solar power, is no easy matter. More chains and independents are moving on the idea of using solar power to provide electricity and heat for their operations. But the technology has its limitations and poses operational challenges to operators.
Chick-fil-A, Chipotle, and Panera Bread rank among the best quick serves in the country in customer satisfaction, according to a study J.D. Power and Associates released on Tuesday.
The 2010 U.S. Restaurant Satisfaction Study evaluated consumer responses to an online survey that measured four aspects of customer satisfaction: price, environment (ambiance, cleanliness, convenience of location/hours), meal (quality/taste of food, meal presentation, portion size), and service (speed, wait staff courtesy/friendliness).
Look out quick serves: Generation Y, aka the Millennial Generation, is coming on strong. From third-graders to grownups pushing 30, they want it their way from Burger King and every other industry player. The smart restaurants will make sure to comply, because the Millennials number 92 million, making them the largest generation in the country. And they aren’t the grin-and-bear-it type.
“Like most people, those of the Millennial Generation value an operation that takes responsibility for its products and services, is honest in the way it conducts its business, and makes customers feel like they matter,” says Lee Igel, assistant professor at New York University’s Preston Robert Tisch Center for Hospitality, Tourism and Sports Management. “But their feelings about all of this, and the way they react to good or poor products and services, are more intense than those of prior generations.”