Peep Insights: And the Winner Is…Fast Food
With the threat of decreased consumer spending and a weak U.S. economy, fast food chains have had the most to gain from value-driven, price conscious consumers. Brands have employed a wide range of strategies to reach consumers during a time when every penny counts.
Aside from the ongoing dollar or value menu wars, chains have stepped up their efforts to match each other on both menu offerings and prices. Following the success of McDonald’s “Snack Wrap”, KFC has aggressively pushed its “Toasted Wrap” and “Snacker” while Wendy’s has responded with “Chicken Go Wraps”. And the food wars have not been limited to classic fast food fare; Quiznos is offering its own “$5 Large Deli Favorite Subs” to go head to head with Subway’s “$5 Footlong Subs”. But undercutting all competition in price is Taco Bell, with value menu items starting at $.79.