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Market Force Information ranks top QSR brands with their latest consumer panel study.
ATLANTA, May 20, 2023 /PRNewswire-PRWeb/ — Hot off the grill and sizzling with insights, the latest Market Force study on the top Quick Serve Restaurant (QSR) brands in the US is almost here! As we dive into the savory world of fast food, 2023 emerges as a year of explosive growth, bold innovation, and relentless customer-centricity. With fierce competition and evolving consumer tastes, it’s a battle for culinary supremacy where customer experience, differentiation and perceived customer value are the key ingredients for success.
Market Force surveyed 4,708 consumers about their most recent restaurant experience to understand which brands are consumer favorites, and more importantly, how they are winning over consumers. This information arrives at timely point in the calendar with top brands convening in Chicago this weekend for the National Restaurant Association’s annual show.
Customer loyalty titans, In-N-Out Burger and Chick-Fil-A, rank first and second in reported customer loyalty, scoring 80% and 78%, respectively. The great majority of brands saw some level of erosion in their loyalty scores in the current study vs the last, likely due to increased price sensitivity with inflation affecting household spending. Both of the loyalty winners declined significantly versus Q4 of 2022.
Based on the results Phil Doriot, leader of Strategy and Analytics for Market Force exclaimed, “In the classic battle of chicken vs. beef; beef is now officially on top!”
New share of wallet entrants Jersey Mike’s and Raising Cane’s are making significant inroads with improved share of wallet measures. The two ran a dead heat on share of wallet each achieving 55% of intended future visits from customers. Contrastingly, Chick-fil-A dropped by over 10 points in share of wallet, achieving a rank of 20th position in our study. Chick-fil-A’s significant downgrade in the value of its loyalty program may be to…
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