Subway leader shares three things customers ask themselves to determine value
Shane Bracken will join QSR Media Australia Conference & Awards 2023, powered by Redbull as a speaker.
Getting more out of what they paid for is what most consumers are looking for as cost of living pressures saw a drop in cafes, restaurants and takeaway food services by 0.3% in June according to recent government statistics.
If you are not driving value, you are missing a huge part of where the market is, Subway Managing Director for Australia and New Zealand Shane Bracken told QSR Media.
Shane shared that his passion has always been in the quick-service restaurant industry. He was fascinated and driven by food and innovation, which fueled and guided most of the direction of his 25-year career.
“After joining the Subway team in 2022, a big focus of mine was driving brand growth and franchisee profitability. Suitably, this was a large component of my former senior leadership positions at Kerry Taste & Nutrition and Detmold Packaging, two of Asia Pacific’s and ANZ’s major QSR and Packaging companies and has fuelled my strategic direction at the helm of Subway,” Shane explained.
READ MORE: Subway ANZ chief marks first year with big, bold moves
This 30 October, Shane will be attending the QSR Media Australia Conference & Awards 2023, powered by Redbull as one of the key speakers of the afternoon stream. In a case study, Shane will share the highlights of Subway’s recent brand refresh.
In a quick Q&A session, Shane shares what three questions customers ask themselves when determining value and what he is looking forward to in the upcoming QSR Media Australia Conference & Awards 2023, powered by Redbull.
As a leader in QSR, how have you navigated challenges like changing consumer preferences and new industry trends to your advantage?
Shane: It’s extremely busy in the industry with multiple brands shouting to be heard so it’s important that what we do launch into the market has relevance and resonates with our guests. From our side we see consumers looking for new taste experiences that not only deliver on craving but also, freshness. Guests are looking for innovation across a few platforms like snacking, they are looking for products that make them feel good but deliver real taste and ingredients across multiple day parts.
What are the top trends you have noticed in the past year that QSRs should keep an eye out for?
If you are not driving value, then you are missing a huge part of where the market is. What you do need to be completely aligned with is value is not what something costs in absolute dollars. Guests are focused on questions like did I get value out of what I paid. Did I get the taste experience and did my experience meet or exceed the “worth it” question?
There are great new LTO’s and product innovations every month across multiple QSR brands we all have fantastic innovation teams, but if you don’t drive value and worth it then in today’s environment, you’re missing the market even with the best product out there.
How do you think QSRs should maintain their competitive advantage in a changing environment?
As I mentioned above the “worth it” question is where it’s at. The answer to that question is really, have you delivered on your promise to the guest of a great experience, delivering what they want, when they want it, where they are and across platforms that make the experience convenient and worth their investment in time and money. It’s extremely important you acknowledge where you are on this journey and keep your eye on how the guest experience and interactions are evolving with your brand to stay competitive.
What key takeaways would you like the attendees to gain from your session?
The Australian QSR market is a very crowded place with plenty of brands looking to differentiate themselves. It’s important that you find one or two things that resonate with the journey of your brand. Subway has been on a multiyear transformation which really started with a hard look at where we were and why our guests valued the brand. I hope that the from the session’s brands appreciate that it's not easy to out there for any sized business and staying relevant and worth it is key to success, how you do that is your journey!
For more information about the upcoming QSR Media Australia Conference & Awards 2023 powered by Redbull, please click this link.
