McDonald's Announces McRib's Return on November 1
Gear up, folks! McDonald's has dropped a bombshell – the McRib steak will be back on its menus nationwide starting November 1. This marks the sandwich's 40th anniversary since its debut in 1981. Despite a rocky start, the McRib has since solidified its spot as a beloved menu item among the chain's fans.
The McRib is a delectable treat, featuring boneless pork shoulder meat formed into rib-shaped patties, drizzled with barbecue sauce, and nestled between buns baked in-house. Prices vary depending on location.
McDonald's (MCD) first introduced the McRib in Kansas City in 1981, but it was removed from the chain's menu four years later. Yet, it has since become a McDonald's staple and a highly-anticipated seasonal favorite. In a statement, the company commended the internet and social media platforms for fortifying its "iconic status" and the birth of the term "McRib Season."
Each year, the McRib makes a comeback on the menu. In 2022, it became available nationwide for the first time, and Alexander Chernev, a marketing professor at the Kellogg School of Management at Northwestern University, noted that they are a powerful marketing tool for the food industry.
"When you have these short-lived, exclusive items, it provides a reason for people to visit the store," Chernev told CNN Business. He pointed out how Starbucks customers are captivated by their Pumpkin Spice Lattes and festive red cups.
Limited-time promotions have also played a role in bolstering McDonald's' sales. A recent strategy, which was recently copied by Burger King, involved celebrity menu items, leading to a 25.9% increase in sales at U.S. locations that have been open for at least 13 months during the last quarter, surpassing analysts' expectations.
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Timeless Marketing Strategy: Limited-Time Offers Boost Sales
represents the power of introducing temporary, exclusive menu items, like the McRib at McDonald's and Starbucks' Pumpkin Spice Lattes. These promotions rely on several strategic marketing techniques:
- Creating Scarcity and Hype:
- McRib: The McRib's periodic releases keep the sandwich in the public eye, fuelling excitement and driving sales. In 2022, its limited availability contributed to a 10.3% sales increase for McDonald's.[2]
- Effective Marketing and Branding:
- Pumpkin Spice Lattes (PSL): Starbucks capitalizes on the nostalgia and anticipation associated with the fall season, creating a buzz around the PSL which attracts both new and existing customers.
- Engaging Customers:
- Both the McRib and PSL spark a sense of urgency and exclusivity, prompting customers to try them before they're gone. This urgency generates immediate sales and fosters customer loyalty, as they eagerly anticipate the next limited-time offering.
- Diversifying Revenue Streams:
- By offering unique, limited-time items, restaurants can expand their revenue sources. For instance, the McRib's temporary return includes additional sales from McRib sauce jugs, which sold out quickly and were resold on eBay for a substantial profit.[2]
- Gathering Valuable Customer Data:
- These limited-time promotions provide invaluable insights into consumer preferences and buying habits. Restaurants can utilize this information to refine their menus and marketing strategies for future offerings.
- Competing Effectively:
- Offering exclusive, limited-time products sets restaurants apart from competitors and creates a sense of FOMO (fear of missing out) among customers.
In conclusion, limited-time menu items like the McRib and PSL effectively leverage scarcity, marketing, customer engagement, revenue diversification, data collection, and competitive advantage to boost sales for food chains.
