RBI’s strong Q3 results signal good news for budget and digital options, says GlobalData

Following today’s trading update (25 October) from Restaurant Brands International (RBI) that the group is set to return to its pre-COVID-19 performance by the end of 2021;

Hannah Cleland, Consumer Analyst at GlobalData, a leading data and analytics company, offers her view:

“The re-opening of on-premise outlets in Q3 across regions such as North America and Europe, which combined with the rapid rise in takeaways – with almost half (47%)* of consumers globally agreeing that they are continuing to or order food delivery more frequently – and the global expansion of Tim Horton’s and Popeye’s into new regions such as the UK, have played a part in strong results for the group.

“The hype and subsequent success around introducing iconic brands Popeye’s and Tim Hortons into new markets outside of the US and Canada is no surprise given that 46%** of consumers globally like to try new ingredients or flavours in food out of curiosity (Q2 2021).

“On the other hand, the group has continued to capitalize on the digital channels boom with the help of its various loyalty programs such as the app-based ‘Tims Rewards’ points scheme, combining convenience with money-saving incentives for the 57% of consumers globally who are often or always influenced by how well services align with their budget or schedule***.

“Therefore, there is opportunity for RBI to stand out in the quick service restaurant market with cost-cutting schemes such as loyalty programs, staying ahead of the curve as rising inflation in the second half of 2021 starts to have a greater influence on consumer spending.”

Data is taken from *GlobalData’s Q3 consumer survey 2021, **GlobalData’s Q2 consumer survey 2021, and ***GlobalData’s Q1 consumer survey 2021

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