Fast Food in Canada

PROSPECTS

Fast food continues to gain momentum due to continuous acceptance

Fast food has benefited from increasingly demanding lifestyles and the expanding millennial population that prefers to dine out compared to the older generation. Despite economic conditions, many Canadians have not reduced their fast food visits, primarily due to convenience.

Expansion beyond the core offerings looks profitable for fast food players

Canadians are showing a greater inclination towards convenience, as according to a recent study by Restaurants Canada, approximately 40% of Canadians prefer to eat their breakfast “on the go,” because it saves time from having to cook or with no interest in preparation. This trend is high amongst millennials.

Regular menu innovation is expected to drive sales

Consumers’ preferences continue to change; with society impacted by demographics, lifestyles and disposable incomes, fast food must stay abreast with the fast casual concept to cater to the growing number of younger consumers. Players believe that the constant introduction of new menu items will drive incremental traffic and consumer interest.

COMPETITIVE LANDSCAPE

Tim Hortons maintains leading position in fast food

Tim Hortons has become the most valuable brand for its owner, Restaurant Brands International. The expansion of Tim Hortons has resulted in healthy value sales in 2017.

KFC to expand further, trusting its core customers of its fried chicken

Yum! Brands Inc brand KFC registered significant sales in fast food, due to its core customers of the fried chicken offering. After failing to attract customers with wine and beer, KFC learned that it is only its “KFC Fresh” concept menus that helped to sustain sales, rather than alcohol.

McDonald’s Dollar menu offers fierce competition in fast food

The burger giant McDonald’s experienced sales growth by increasing the prices for its food menus and by adding items such as Egg McMuffins to its traditional lunch order. Although sales were positive, the company wanted to increase consumer traffic, which resulted in bringing back the Dollar menu that had been phased out in 2013.

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