Food franchises must evolve to remain competitive as consumers gravitate to products that can be customised to their individual tastes, an industry veteran says.
Stan Gordon, executive chairman of Melbourne-based Franchised Food Company (FFCo), which owns Cold Rock Ice Creamery, said consumers were drawn to products which allowed them to express their individuality in an increasingly crowded and competitive marketplace.
“Consumers are looking to be masters of their own ‘Youniverse’ and are gravitating to products that are personalised or can be customised to their individual tastes,” Mr Gordon said.
“They just aren’t interested in plain ice cream, but interested in what they can do with it.
“Australia is already the most franchised nation in the world on a per capital basis, so it’s vital that brands evolve to keep pace with changes such as technology, competition and consumer preferences to remain competitive.”
“I don’t believe brands like Baskin-Robbins have evolved to where they should be,” Mr Gordon said.
“There’s no unique selling proposition and there’s no excitement about the Baskin-Robbins experience.
“Reports that they have been cutting back on the number of flavours in a bid to conserve cash also do nothing to build confidence in the brand. A system that cannot evolve cannot survive.”
