AdAge reports that the chain formerly known as Kentucky Fried Chicken isn't seeing much payoff after a series of highly-publicized stunts -- back & forth name changes, relocating the "secret" recipe, bringing Col. Sanders to the U.N., the infamous grilled chicken coupon mess with Oprah, and, of course, launching the Double Down. AdAge:
Although KFC remains the largest player in the growing segment of fast-food chicken, its share continues to drop, according to Technomic. KFC's market share tumbled six full points since 2005 to 30% in 2009, while the category grew from $14.5 billion to $16.1 billion.
Ever-growing threats? Brands such as Chick-fil-A. The much-smaller chain, at least by locations, has built a cult-like following with high-quality sandwiches, better-for-you options, excellent service and clean stores. It now commands 20% of the market with just 1,500 locations. That's less than one-third of KFC's 5,200-store U.S. presence. And Chick-fil-A operates on a six-day week, as its restaurants are closed on Sundays.
While KFC has seen short-term sales gains from their stunts, a loss of focus on their signature product and a "lack of consistent brand positioning" has ultimately seen them losing market share. Read the full article at AdAge for more.
SUBSCRIBE AND FOLLOW
Get top stories and blog posts emailed to me each day. Newsletters may offer personalized content or advertisements.Learn more