After launching its Kentucky Fried Chicken Wraps in February of this year, KFC’s Q1 financial results reflect a positive response from consumers for the new product, especially low-income shoppers, according to Insider.
“The strongest sales that they [KFC] saw in a customer segment in Q1 were with the lowest-income consumers,” said David Gibbs, CEO of KFC’s parent company Yum! Brands. “So the part of the business, the part of the consumer base lifting sales was from low-income consumers because they did a great job connecting with them through that offering.”
KFC’s budget-friendly menu items
The launch of the new wraps was accompanied with a two for $5 promotion as a way for the fast-food chain “[to target] new audiences,” said Gibbs.
With inflation hurting consumers’ wallets and fears of a recession growing, more people are tightening their purse strings and on the hunt for deals, and KFC is looking to appeal to those customers.
Along with the wraps, KFC’s other boneless options include chicken sandwiches and nuggets – both about $5 each – since boneless chicken is cheaper than bone-in.
Yum! Brands is also looking to offer more promotions across its other brands like Pizza Hut and Taco Bell to accommodate the more budget-conscious consumers, according to Insider.
Did you know…
In 2019, a man proposed to his fiancé in a KFC in South Africa which went viral online. Due to online bullying that the couple received for the proposal, KFC paid for the wedding and provided a wedding planner, according to Delish.
