As with all brands, evolution is key to staying relevant and competitive in the marketplace. Smoothie King, known for their delicious smoothies was also known to be filled with sugar and not the healthiest smoothie on the market. Wan Kim, now CEO of smoothie King, bought the brand from its founders in 2012 and has been working tirelessly to not only expand the chain into various countries, but also transform their marketing and product offering to be healthier as people have become more health conscious over the years. In 2015, the company launched a project to swap out every single ingredient with healthier options. They also have a list of ingredients such as artificial colors, preservatives and flavors that they have banned completely in their smoothies. Now, approximately 70% of the drinks they serve do not contain any added sugars.
The transition for the brand did take some time for customers to adapt, the loyal members were not certain they would like the changes and it took time for the health-conscious customer to catch on that the franchise making these drastic changes. They have also taken their marketing efforts to the next level with partnerships with Under Armor, the Dallas Cowboys and the American Cancer Society to showcase health and wellness as a critical component in their DNA. The numbers don’t lie when measuring a successful strategy. “Between 2012 and 2020, the average unit volume increased from roughly $361,000 to $498,000, a compound annual growth rate of 5.5 percent,” according to the article.
To read more, click the link below.
Inside Smoothie King’s Transformation to a Healthy Lifestyle Brand | QSR magazine
About The Author: Jeff Dervech
Jeff Dervech is a Tampa local commercial real estate agent, specializing in the arena of retail strip center and shopping centers.
More posts by Jeff Dervech