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Data compiled by Placer.ai, an advanced foot traffic analytics platform in Silicon Valley, shows that Restaurant Brands International Inc's (NYSE:QSR) Popeyes is seeing a notable boost in foot traffic after its chicken sandwich returned to the menu.
Popeyes Posts Triple-Digit Traffic Gains
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Popeyes' re-launched chicken sandwich on Nov. 3 resulted in a 286% surge in foot traffic above a baseline for the period from Jan. 1, 2017 to Nov. 8, 2019, Placer.ai said in a Monday blog post.
Even the worst recorded traffic day, Nov. 7, showed a 188.1% jump in visitors. The one-day lag was followed up by a 245.9% improvement in traffic versus the baseline on Nov. 8.
Placer.ai: Popeyes Proves It Can Score 'Massive Home Runs'
Popeyes is taking advantage of a new round of excitement and buzz that is greater than what it saw in the summer months when it first introduced a new chicken sandwich. The company will find it difficult to sustain momentum indefinitely, but even when traffic returns to historic norms, investors should still be satisfied.
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Popeyes' has shown just two months of traffic below the market set on the same month last year, according to Placer.ai. This speaks to the restaurant chain's ability to oversee stable growth coupled with "massive home runs," the analytics firm said.
What's Next For Popeyes
Popeyes investors have plenty of reasons to feel good about the stock moving forward — even if future menu innovation doesn't reach the "extravagant levels" seen in November, according to Placer.ai.
Restaurant Brands shares were down 0.32% at $66.26 at the time of publication.
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Public domain photo via Wikimedia.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.