The quick-serve restaurant value wars have never been more important to chains that are losing market share to prepared foods sections at grocery stores and full-service establishments. Concurrently, consumers are rejecting higher fast-food prices resulting from inflation in the category outpacing overall rates.
For many brands, price competition has hit comfortable lows and have become a given in the industry. As such, the “value” term has shifted to offer additional benefits.
"QSR customers are becoming more accustomed to, and expectant of, value offerings. They’re looking beyond the lowest price to factors like portion size, ingredient quality, variety, and customization,” Brad Wasserstrom of restaurant supplier The Wasserstrom Company told FI.
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