In the fast food service industry, value for money has become the order of the day. "Food is not a luxury and quite honestly it is cheaper to eat fast food than it is to eat supermarket food in many cases," said Carlo Gonzaga, CEO of Taste Holdings. McDonald's SA's 20th birthday a couple weeks ago saw the sale of over 100,000 Big Mac Medium Meals at R19.95 within the first two hours. CEO Greg Solomon said, "You need to be more diverse and have a better offering. If you're just selling one product, that's not good enough." According to Statistics SA, coffee shops have contributed to around 2.8 percentage points of the positive annual growth around takeaway and fast food. They have also had a 7.1% increase in income since 2014 with impressive growth throughout the country. KFC's relaunch campaign earlier this year resulted in a R3.1m gain in coffee sales and an overall breakfast sales increase of R1m. French bakery-café brand Paul International signed a 10-year license agreement with Famous Brands. Group CE, Kevin Hedderwick, comments: "This partnership is the culmination of a two-year courtship between Famous Brands and Paul. For some time, it has been the group's stated intent to enhance the contribution of our premium-end portfolio and, therefore, we are particularly delighted to add a brand of the stature of Paul to our existing elite brand bouquet."
Jessica Taylor, Retail Editor (@Biz_Retail)
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