KFC’s Famous Bowls Promotion: Joining the Value Conversation
KFC is known for its delicious menu offerings, and now it is making waves in the value conversation with its latest promotion: the Famous Bowls. In this article, we will explore KFC’s embrace of value and how it is enticing customers with its Famous Bowls promotion. Get ready to learn more about this exciting deal and the unique twist that KFC has added to the mix.
KFC Embraces Value with the Famous Bowls Promotion
The year 2018 was marked by intense competition in the quick-service restaurant industry, with players striving to offer the lowest prices to generate more customer traffic. While Yum! Brands sister chains Taco Bell and Pizza Hut actively participated in this value-driven game, KFC had not been a significant part of the recent value conversation. However, that is about to change with KFC’s latest promotion featuring its original Famous Bowl and a new Spicy Famous Bowl, featuring Nashville Hot sauce, now available for only $3 each for a limited time. This is a significant discount from the regular price of $5 per Famous Bowl.
CMO Andrea Zahumensky believes strongly in this value proposition, stating in a press release, “I can’t believe we are actually selling a pound of delicious food for just $3…” This promotion not only offers customers an incredible deal but also positions KFC in the value narrative, an area where it had been less prominent. It is a well-timed move considering that consumers have come to expect value prices due to ongoing value wars in the industry, and January is typically a slow month for restaurants as consumers recover from heavy holiday spending.
The Famous Bowls have a fascinating history. They were first launched by KFC in 2006 and quickly became a hit. According to an NPR story at the time, one KFC manager attributed a 12% sales lift specifically to the bowl launch. Now, KFC is bringing back the Famous Bowls deal, taking advantage of its popularity and aligning with consumer expectations for value offerings.
While KFC has focused on everyday value with its $5, $10, and $20 offerings, it is now injecting itself into the value conversation by leveraging the popularity of its Famous Bowls. However, KFC faces tough competition in the value space, particularly from fast-food giants like McDonald’s and Taco Bell, known for their dollar menus and affordable options. Finding the right balance between offering value and maintaining profitability is crucial for KFC.
During Yum! Brands’ investor day in December, CEO Greg Creed acknowledged the importance of value in driving sales. However, he also emphasized the need for careful thought and scientific formulation to achieve long-term sustained profitable growth. KFC aims to strike this delicate balance by offering the Famous Bowls promotion only until Jan. 27, creating a sense of urgency and limiting potential profit margin erosion.
In addition to the value proposition, KFC has introduced a unique and unconventional element to promote the Famous Bowls deal. On a specific day, KFC will host a popup event in Brooklyn where customers can get a 1990s-inspired bowl haircut. The 1990s styles have made a comeback, and KFC is capitalizing on this trend to generate buzz and engagement. The company has even created five stylish, modern-day takes on the bowl cut hairstyle, which customers can explore through a digital lookbook. Participants are encouraged to share their #KFCFamousBowl haircuts on the brand’s Twitter page.
KFC’s recent promotions have been met with excitement and intrigue from consumers. From families naming their babies “Harland” after KFC’s founder to the popular demand for KFC fire logs that smelled like fried chicken, the brand has proven its ability to capture attention and create unique experiences for its fans.
In conclusion, KFC’s Famous Bowls promotion marks its entry into the value conversation, offering customers an incredible deal on a popular menu item. With its limited-time discount and unique promotional twist, KFC aims to engage customers and make a memorable impression. So, don’t be surprised if you see people walking around New York City sporting a bowl haircut after Thursday’s popup event.