used to be the pizza king, but now it's not very beautiful. As the first choice of pizza for many consumers, Pizza Hut has gradually begun to fade its halo, and the former high-end quality representatives have now launched "Pizza Hut WOW" stores with lower unit prices for Pizza Sariya, and even the category that has always focused on pizza has now begun to launch burgers. The unit price has become lower and the categories have increased, which does not seem to be a good development trend for Pizza Hut, so what does Pizza Hut want to do after several actions?
Also belongs to the Yum Group, KFC does not have so many fancy operations as Pizza Hut, so the recent frequent actions of Pizza Hut will develop in that direction in the future, and can the same brother KFC give some content to learn?
01.
Frequent movements
In fact, judging from the data, KFC and Pizza Hut, which both belong to Yum Group, are now very far behind. KFC's revenue in 2023 will reach $8.24 billion, while Pizza Hut's revenue will only be $2.25 billion, although as of 2022, Pizza Hut still occupies 35.2% of the Chinese pizza market, but it has to be admitted that although Pizza Hut's position in the pizza industry is still solid, it is still far from comparable to KFC.
And even though Pizza Hut has a large market share, with the continuous development and impact of major pizza brands, Pizza Hut is now facing a situation where it may be overtaken by latecomers. Internally, it can't compare with KFC, and externally facing the impact of major pizza brands, Pizza Hut's development path can be described as difficult.
In order to solve this problem, Pizza Hut has also launched various means to attract consumers. For example, the opening of a "Pizza Hut WOW" store with a lower unit price, similar taste, almost unchanged service, and a lot of price reduction, Pizza Hut first used "good quality and low price" to attract consumers. The burger launched this time is also a measure to attract consumers, so it can be seen that the burger has a high attraction to consumers in the first week of its launch, and at the same time, the exposure and click-through rate have also achieved good results.
02.
High sense of value
In general, it is not difficult to find that whether Pizza Hut opens low-priced stores or launches burgers, all kinds of actions show a trend, that is, to bring consumers a sense of high value. The first is to benchmark the low unit price restaurants opened by Saria, such as the common noodle rice price starts at 15 yuan, the drink price starts at 6 yuan, and the price of main dishes such as steak is mostly about 19-45 yuan, and at the same time, the unit price of the dishes is lowered while maintaining a consistently high level, and the amount of some classic products has been adjusted, so that consumers can spend less money to eat the same level of food and obtain a higher sense of value.
Secondly, Pizza Hut's new burger also emphasizes the sense of value, with a unit price of 19 yuan to 33 yuan and is similar to that of KFC, but Pizza Hut's burger burger skin is made of pizza dough, and it is a freshly made burger, which will bring consumers a higher sense of psychological satisfaction. Therefore, the Pizza Hut burger with full sincerity has been loved by many consumers as soon as it was launched, and it has also become the first choice for lunch for many young consumers.
Therefore, selling high-quality dishes in low-priced stores and cost-effective burgers in high-quality stores is what Pizza Hut has done when it is difficult to grow. It can be said that these two actions are actually two attempts by Pizza Hut, one is whether it can conquer consumers with a sense of high value after lowering its price, and the other is to use cost-effective burgers to attract consumers while maintaining the original tonality, and whether it can collide with a wonderful chemical reaction. Either way, it's clear that Pizza Hut is now desperate to reverse the slowdown.
03.
The future is promising
In fact, for Pizza Hut, today's development is indeed facing multiple shackles. The first is that pizza is no longer a "rare thing", for consumers, pizza has gradually stepped down from the altar of the once tall, and the continuous impact of major pizza brands makes Pizza Hut face the problem of urgently needing other products to the town.
The second is that Pizza Hut's consumption scene is also a problem that restricts its own development, as a relatively high-end restaurant, most of the consumers who come to eat are family units, but now more and more consumers prefer and adapt to the scene of stomach dining, plus young consumers pay more attention to cost performance, so it is also difficult to break through the scene problem of Pizza Hut.
It can be seen from the launch of Pizza Hut's new burger and the opening of low-price stores that this is not only a performance recovery, but also a reshaping of brand value. Of course, in the future, we have reason to believe that Pizza Hut will continue to be guided by consumer needs, and continue to explore and try to inject new vitality into the brand.
Resources:
1. "Pizza Hut opened a "Saria", but still thinks about McDonald's, New Retail Business Review
2. "Pizza Hut started making burgers, what do you think?" ", 36 Krypton
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