Fitness, healthier food, niche wellness continue to show signs of growth, Powills says on Cheddar
Live from the New York Stock Exchange on Friday, June 16, Publisher Nick Powills spoke with media disrupter Cheddar about what types of franchise brands are showing significant growth in 2017.
“Healthier for you brands continue to be among the highest searched on 1851,” Powills said. “Better for you snacking, meal replacement, niche wellness like cryotherapy, salon, 24-7 gyms, massage are all sought after categories.”
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During the segment, Powills also pointed out that education brands’ growth has not waivered and has remained consistent.
“There are staple brand-types that continue to grow no matter what is happening in the economy,” he said. “Education brands are one of those categories.”
The conversation turned toward perception v. reality in brand growth.
“Brands like McDonald’s get beat down for failing to meet comp sales expectations,” he said. “However, comp sales compare year-over-year or period-over-period numbers – not simply profitability. It’s not that franchisees are not making money, it’s simply that they are not making the same amount of increase of more money.”
Millennials were also a topic from the NYSE, as Powills said the consumer profile of the Millennial is more about friends first and convenience second.
“The younger customers are not leaving fast casual or QSR. There are a lot of brand options. Brand loyalty is not as important as friend loyalty and what restaurants are nearest to them. With more brands, there are more options. With more options, there are closer options. With closer options, brand loyalty is not as important to the customer,” he said.