One of the biggest trends in the U.S. quick service restaurant (QSR) industry has been the addition of more value meals that are marketed toward low-income and/or thrifty consumers.
That trend could prove beneficial for Tyson Foods, as a company executive says Tyson is well-positioned to help QSRs meet its customer demands for such meals.
“The foodservice industry, as you know, is large and demand for protein is strong as consumers see protein as an essential staple in their diet and meal routine,” said Melanie Boulden, Tyson Foods chief growth officer and president of Tyson Prepared Foods.
“Tyson’s diverse foodservice portfolio spans major proteins: chicken, beef and pork. And this year, we’ve also seen a particular interest in our poultry offerings as quick serve restaurants have been emphasizing value menu offerings.”
Boulden, while speaking during the Tyson Foods quarterly earnings call on August 5, said it is not only Tyson’s diverse portfolio that is beneficial, but also the broad range of processing plants within its network.
“These factors, combined with our large and flexible manufacturing infrastructure, have been instrumental in driving our performance. For example, our ability to quickly partner with customers on LTOs, or limited time offerings, to meet their business objectives,” she said. “We’re operating best in class, and at the same time, that flexibility is also helping us to better partner with our customers to quickly develop innovations. We remain focused on what we can control in foodservice, including improving our product pipeline with innovation to drive operator value and new customer acquisition.”
