This decade has been straight-up struggle for Burger King.
Quartz reports that back in 2000, the burger chain controlled nearly 19% of market. Fast forward to 2013: Burger King’s share had eroded to 11.2%, according to data from market research firm Technomic.
Meanwhile, McDonald’s “has been eating Burger King’s lunch,” as Quartz so astutely puts it. McDonald’s controlled 47.3% of the market last year.
Why has Burger King been failing so hard? Quartz explains,
“Morgan Stanley analysts argue that corporate management, undercapitalized franchisees—which skimped on investment—and lack of product innovation all played a part.”
Although, Burger King is taking steps in the right direction to get itself out of the slump—the chain is revamping its menu, upgrading its stores, and its changed its 40-year-old slogan from “have it your way” to “be your way,” (we think BK should have just gone with “do you”).
Seeing that shares of the company were up more than 12% this year, it seems that Investors are happy with the changes.