Biz Buzz: Oh joy! Jollibee is fave brand in SE Asia
The iconic Chickenjoy is taking the world by storm, besting global giants in the hearts—and bellies—of consumers.
It comes as no surprise now that homegrown fast-food chain Jollibee has emerged as Southeast Asia’s No. 1 brand, based on marketing analytics firm Campaign Asia’s latest study.
The company led by tycoon Tony Tan Caktiong had an overall score of 67.35 percent, pushing past South Korean fast-food brand Lotteria with 64 percent.
Jollibee no longer seems to be batting an eye about how its largest competitor, McDonald’s, seems to be fairing. To be fair, McDonald’s isn’t that far behind: it scored 62.3 percent and ended third.
During its recent media briefings, Jollibee seems to be watching KFC, its other international competitor, more closely. The US-founded fried chicken maker ranked fourth with 61.5 percent.
Country-wise, Jollibee, of course, ranked first with 72.25 percent.
“Its high scoring across most categories in the Philippines ultimately secured it the top overall across [Southeast Asia] in the food sector,” Campaign said.
Indeed, domestic consumers have been doing the heavy-lifting for Jollibee. In fact, the company has been doing so well thanks to its Philippine operations that it decided to call off plans to raise P8 billion from a preferred share offering.
It went as far as cutting by at least 20 percent its P23-billion budget allocation for the year. Let’s hope the good performance continues!
