Now for a positive story from the restaurant world.
In a time where eroding traffic and sales seems like the new normal, and the entire casual dining segment is close to capitulating, along comes Chick-Fil-A. The quick service chain is growing at an awesome rate over the past 5 years. How awesome?
How about 25% more stores and an average unit volume growth rate that exceeds the expansion rate? In the past 5 years Chick-Fil-A system sales are up over 70%.
And that Average Unit Volume? A cool $3.9 million! McDonald’s wishes it could come close…the arches are at $2.5 million.
Compare Chick-Fil-A unit volume to higher check average full-service brands that sell alcohol and they still best many of them. And did we mention they do all that by opening only 6 days a week and closing down each night to avoid the 24-hour grind?
Kudos to Chick-Fil-A. Proof positive that even as the restaurant industry goes through a seismic shift in market demand, brands that are well-positioned and differentiated with solid core products, and that operate exceptionally well consistently, can absolutely dominate.
Chris Petersen is CEO at On Brand Media, providing solutions for clients navigating an increasingly diverse media landscape. Practices include Brand Development, Marketing, Customer Experience, Media Buying, Creative & Technology and Restaurant industry expertise. Learn more at www.onbrandmedia.com and contact Chris at firstname.lastname@example.org.