Burger King cuts Impossible Whopper price as sales slow
Burger King is cutting the price of its Impossible Whopper, the faux-meat burger it introduced last year, as sales start to slip.
Carrols Restaurant Group Inc., the biggest Burger King franchisee in the United States, said sales tapered off to about 28 Impossible Whoppers daily per store — down from 32 previously. The company, which has more than 1,000 Burger King locations, said sales seem to be stabilizing at that level. The sandwich was recently added to the chain’s two-for-$6 discount menu on a temporary basis. That compares to the previous suggested price of $5.59 per sandwich.
The slowdown is not stopping the chain from using the item to attract customers, however. More promotions and ads are coming for Impossible Foods Inc. items, Carrols Chief Executive Daniel Accordino said at a conference.
“That plant-based platform will be advertised and will be expanded on the Burger King marketing calendar in 2020,” he said, noting that there will be an expansion of the Impossible Whopper line this year, and that the company is testing the Impossible Whopper Jr. and Impossible Sausage.
Shares of Beyond Meat Inc., a competitor of privately held Impossible Foods, fell 5.2% on Wednesday.
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Dominic Flis, a Burger King owner in Little Rock, Ark., said Impossible Whopper sales have recently fallen to fewer than 20 per store a day, down from 30 when it was first introduced. He may now be selling it at a loss, he said.
“It’s definitely compressing the margin,” he said.
Burger King’s plant-based Whopper “continues to exceed expectations, drive traffic to our restaurants and attract new incremental guests,” Chris Finazzo, president of the chain’s Americas region, said in a statement. “We continue to see high levels of repeat restaurant visits, showing that guests are enjoying the Impossible Whopper and returning for more over and over again.”
Burger King, owned by Restaurant Brands International Inc., introduced the meat alternative nationwide last year after a successful test in St. Louis. The company said in October that the sandwich was a “huge hit” and helped U.S. comparable sales, a closely watched measure, climb 5% in the third quarter.
Impossible-related promotions have included free delivery, free samples for delayed airport passengers and, beginning last week, the item’s entry on the discount menu.
Impossible Foods “is satisfied” with sales at fast-food restaurants, spokeswoman Rachel Konrad said. She said that a lot of variability is normal due to factors such as seasonality, ad campaigns and restaurant locations.
“We’re happy to work with customers to improve sales across the board,” Konrad said.
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Nationwide, restaurants and grocery stores are rushing to add plant-based options. It remains to be seen whether their popularity is a long-lasting trend, but the biggest restaurant and food companies are moving to capitalize on the growth. Starbucks Corp. said Tuesday that it’s exploring meat alternatives for its breakfast menu, while McDonald’s Corp. is testing faux meat from Beyond Meat in Canada and from Swiss company Nestle in Germany. Food distributor Sysco Corp. said last week that it’s introducing a new plant-based burger patty in the United States.
Despite the rising popularity of faux meat, Americans are also eating more real meat than ever. Total consumption of red meat and poultry is expected to rise to 225.6 pounds per person this year from 224.3 pounds in 2019, according to USDA data. Even at Burger King, there’s no evidence the meat-free option has led to less meat consumption.
Impossible Whopper sales were not cutting into regular Whopper sales, UBS analyst Steven Strycula said in a note last month.
It’s not surprising that sales have leveled off, said Adam Chandler, author of “Drive-Thru Dreams: A Journey Through the Heart of America’s Fast-Food Kingdom.”
“The fatigue tends to set in after the initial buzz,” he said, noting that Carrols has reported a similar stabilization in sales of the much-hyped Popeyes chicken sandwiches. But Chandler doesn’t expect the Impossible Whopper to be cut from menus anytime soon because of the chain’s big investment in a national rollout.
“It’s going to stick around for a long time,” he predicted.
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