In the fast-paced and ever changing landscape of India's food industry, a notable shift is underway. This transformation is being driven by a growing inclination among consumers towards lower-priced products and a preference for regional brands. Against this backdrop, the country's leading quick-service restaurant (QSR) chains are undertaking significant overhauls of their business strategies. These strategic adaptations have become essential as these QSR giants grapple with a persistent slowdown that has persisted for three consecutive quarters. The key elements of this strategic transformation encompass a multifaceted approach aimed at ensuring the QSRs' continued relevance and competitiveness in the evolving Indian market.
The Shifting Tides of Consumer Preference
Consumer discretionary spending in India, like in many countries, is facing headwinds. Gaurav Burman, director of Burman Hospitality and master franchise partner of Taco Bell, acknowledged the challenges, mentioned in a statement, "Branded QSR is not an everyday purchase." Taco Bell has taken extensive steps to adapt to this new environment, aiming to increase its appeal to cost-conscious consumers.
Localizing Menus: A Key Strategy
This story is from the November - December 2023 edition of The Franchising World.
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This story is from the November - December 2023 edition of The Franchising World.
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