The fast food industry is projected to grow only about 2 percent annually over the next five years, according to IBIS World. A major challenge is presenting menu offerings for price-sensitive diners who want healthy options.
Price competition was evident in the fast food world last year, with promotions that offered consumers menu items at $1 each if bought in combinations of, say, two for $2.
“It’s price wars,” says Warren Solochek, head of NPD Group’s food service practice. “If your key competitor does something that you think will give them an advantage, either you follow with something similar to help retain your customer, or you risk losing customers.”…
