Quick, quicker, quickest

The first McDonald’s restaurant opened in 1948 by brothers Maurice (“Mac”) and Richard McDonald in San Bernardino, California. When they bought appliances for their small hamburger restaurant from salesman Ray Kroc, he was intrigued by their need for eight malt and shake mixers. When Kroc visited the brothers to see how a small shop could sell so many milk shakes, he discovered a simple, efficient format that was able to churn out huge quantities at very low prices. Later when Kroc franchised the first McDonald’s restaurant in Des Plaines, Illinois, USA, on April 15, 1955, it wasn’t just the opening of a restaurant; it was the birth of a franchise system and an international fast food empire. Like Kroc said, “I didn’t invent the hamburger. I just took it more seriously than anyone else.”

Quick Service Restaurants or QSRs, work on the premise of impulse buying, so the marketing strategy of a QSR focuses on people, not the product itself. Although quality is important, the marketing strategy itself is based on speed and pricing. That’s probably why, though the Covid crisis threw them a curveball, most strong QSRs simply reshaped their delivery formats to reach their customers.

In the immediate post pandemic period, a McKinsey report saw QSR companies choosing between two sets of strategic actions, depending largely on each QSR’s financial and competitive position. According to the report, companies with low liquidity and weak competitive differentiators would need to pursue “preserve and grow” actions. On the other hand, companies with strong financial fundamentals and competitive advantages can aggressively build on their strengths.

In our Cover Story this issue, QSRs, both the known and the emerging brands, the global and the local, outline their plans to win back customer confidence. And that’s the long haul.

Trust is a key factor driving demand back to the industry, according to Vincent Ramos Area Director – IHCL (Indian Hotels Company), Goa and General Manager – Taj Resort & Convention Centre, Goa. In an Exclusive interview with us, Ramos says that 2020 was a year that altered lives and businesses, posed an unprecedented challenge and created a new, altered reality, mandating the need for agility and rapid thinking.

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