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| Pizza Hut U.S. is collaborating with the new Las Vegas Sphere, the new entertainment venue and advertising platform, to turn the exterior of the building into a giant pepperoni pizza. It’s all part of what Pizza Hut is calling a Pie in the Sky, which is promoting the chain’s new $7 Deal Lover’s Menu, |
| KFC Thailand has partnered with the Equal Education Fund (EEF) for its “Bucket Search” initiative, addressing the rising number of Thai youth leaving formal education. The program aims to support over one million disadvantaged youth aged 15-23 by providing fundamental skills beyond traditional education. |
| Beyond Meat and Pizza Hut U.K. are launching menu items featuring a Beyond Pepperoni meat alternative starting in January for a limited time. Beyond Meat aims to tap into the growing trend of British consumers reducing animal meat consumption. |
| The Habit Burger Grill has secured a spot on the 2023 Franchise Times’ Top 400 list. This recognition for the third consecutive year reflects the brand’s commitment to growth and franchisee success. The Habit’s Chief Business Development Officer, John Phillips, expressed gratitude for the acknowledgment, highlighting the brand’s strength in franchise support, culinary offerings and leadership. |
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| McDonald’s is set to increase its minority stake in its China business from 20% to 48%, acquiring Carlyle’s stake as part of a broader strategy implemented in 2017. The move aimed to reduce direct ownership, allowing local franchisees to manage operations. The current deal’s financial terms were undisclosed, with its completion expected in Q1 2024 pending regulatory approval. Despite challenges in China’s market post-COVID, McDonald’s has doubled its footprint to over 5,500 locations and aims for 10,000 by 2028. |
| Shake Shack has unveiled a new merchandise collection for the holiday season, available exclusively online. The apparel collection includes a Faded Black Embroidered Hoodie and Sweatpant combo, Varsity Cream/Pine Crewneck and Tee, Burger Patch Beanie, Dad Hat, Sporty Burger Socks and Icon Socks. |
| Wendy’s has introduced a limited-time menu item in Canada that combines sweet and savory flavors -- a duo of chicken strips and French toast sticks. This pairing was inspired by a fan creation that gained popularity on social media after Wendy’s started offering French toast sticks all day in October. Responding to the demand, Wendy’s decided to make this fan-favorite combination officially available. |
| Little Caesars is bringing back its Stuffed Crust pizza with a twist -- the Stuffed Crazy Crust Pizza. The new item combines the classic Stuffed Crust with the signature Crazy Crust topping featuring garlic-infused butter and parmesan. |
| Approximately 25% of consumers in 2023 replaced restaurant meals with foodservice options from grocery stores, marking a 17% increase from the previous year, according to FMI research. The report indicates a shift as shoppers increasingly cook at home, creating hybrid meals combining pre-made and scratch-cooked items. Over 70% of households purchased deli foodservice products, with 68% of consumers planning to continue buying restaurant-like products from groceries. |
| The market for mergers and acquisitions (M&A) in the restaurant industry is gaining momentum toward the end of 2023 after a slowdown in the first half of the year. Speakers at the Restaurant Finance & Development Conference noted improved conditions for M&A deals, with buyers and sellers coming together on valuations. Despite challenges, the speakers indicated a growing momentum and activity in the M&A space, particularly for high-performing brands. |
| Celebrity virtual restaurant brands, such as MrBeast Burger, gained popularity during the pandemic but are facing challenges. The surge in demand from celebrity promotions can strain core operations, impacting speed and product quality. The recent high-profile dispute between MrBeast (Jimmy Donaldson) and partner Virtual Dining Concepts over MrBeast Burger’s product quality highlights the risks associated with celebrity brands. The overall success of celebrity-backed virtual brands remains uncertain, with potential profitability challenges and reputational risks. |
| The term “choiceful” has become a favorite among CEOs to describe consumer spending behavior and corporate strategies in 2023. So far this year, the term has appeared in 15 quarterly earnings calls for S&P 500 companies, nearly double the mentions from the previous year. CEOs like Walmart’s Doug McMillon and McDonald’s Chris Kempczinski have used “choiceful” to describe consumers trying to balance spending while being selective about their purchases. |
| Remy Robotics, a Spanish foodservice robotics company, has introduced Better Days, a health-focused, “fast-fine” restaurant in New York City that combines human prep chefs with robotic arms to create a collaborative cooking process. The robotic platform is used for delivery-focused restaurants, where off-site human chefs prepare the menu and deliver it to the automated storefront for robot arms to complete the cooking process. Remy Robotics aims to expand its robot-run eateries throughout North America, with plans to franchise the concept if the Better Days model proves successful. |
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