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 blame for the drop.
Wallet share measures how much consumers spend on a specific brand as opposed to its competitors. Several pizza brands scored well in the current study with Papa Murphy's and Papa John's topping the list. Five Guys reigned supreme in burgers with a score of 45%. Jersey Mike's and Raising Cane's also made the top 5 showcasing consumer preferences across multiple categories.
The 2023 Quick Serve Restaurant (QSR) / Fast Casual Study ranks top brands across an array of attributes including their ability to deliver satisfying visits, customer loyalty, the degree to which consumers trust each brand, and all core elements of the customer journey. These attributes help differentiate the experience offered at each restaurant.
The full results of the study will be released in a new interactive format in June. You can sign up to receive access at https://www.marketforce.com/qsr-research-2023
To join our growing consumer panel visit:
https://panel.marketforce.com/become-a-panelist
About Market Force Information
Market Force Information provides a robust framework for measuring and improving employee experience, operational performance, customer experience, and financial KPIs. Market Force delivers solutions for restaurants, big box and specialty retail, grocery, petro-convenience, hospitality, travel, telecom, technology, energy, education, health and wellness, movie studios and theatres, fitness, financial services, gaming, CPG, alcohol and tobacco, pharma, government agencies and more.
Media Contact
Scott Griffith, Market Force Information, 770.441.5366, [email protected]
SOURCE Market Force Information
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