September 25, 2018
Doughnuts remain on the menu, but Dunkin Donuts is shortening its name to "Dunkin'" to reflect its increasing emphasis on coffee and other drinks as well as sandwiches.
Earlier this year, the company tested the new name at a store in the Boston suburb of Quincy. The change will officially take place in January, when the Dunkin' name will start appearing solo on napkins, boxes and signs at its U.S. stores. The name change will eventually be adopted by international stores.
Dunkin Donuts is changing its name
Canton, Massachusetts-based Dunkin' Brands has more than 12,500 restaurants globally. The 68-year-old chain says its new logo will still have the familiar rounded font and orange-and-pink color scheme that the company has used since 1973.
Dunkin' says the name change is one of several things it's doing to stay relevant to younger customers, including adding dedicated mobile ordering lanes.
The company also is testing a "less is more" strategy in about 1,000 of its 9,000 U.S. locations by paring its doughnut selection. The streamlined stores will sell a minimum of what Dunkin' calls 18 "core" doughnuts, down from about 30 varieties. Dunkin' said in a statement that, depending on how customers respond, it may pare down its selection nationwide.
The company's sales and profits have grown steadily in recent years and its stock price is up more than 14 percent so far in 2018. While overall U.S. store traffic was down in the second quarter of this year, the company noted that but revenue was up thanks to sales of higher-margin iced coffee drinks and breakfast sandwiches.
"By simplifying and modernizing our name, while still paying homage to our heritage, we have an opportunity to create an incredible new energy for Dunkin'," the company's chief marketing officer, Tony Weisman, said in a statement.
But the name change could be a big mistake, says Laura Ries, an Atlanta-based marketing consultant.
Ries says "Dunkin'" eventually won't mean anything to younger customers who haven't grown up with the full name. Specific words are easier for people to remember and conjure emotional connections, she said. Having "Donuts" in the name is also easier for people in overseas markets who may not know what "Dunkin'" means.
Ries said other brands — like KFC and DQ, which used to be Kentucky Fried Chicken and Dairy Queen — have made similar mistakes. They wanted to take the emphasis off fried food and ice cream, she said, but new generations don't know what the letters stand for.
Even if people think doughnuts are unhealthy, they know they can just get coffee while they enjoy the doughnuts' smell, she said.
"There's nothing wrong with still having 'Donuts' in your name," she said. "Long term it was helping them, giving them a brand identity that was the opposite of Starbucks."
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Global Vehicle to Grid Market 10 Year Forecast Report 2024-2034 - Supportive Government Regulations and Financial Incentives for V2G Deployment
DUBLIN, March 18, 2024 /PRNewswire/ -- The "Vehicle to Grid (V2G) Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering. World revenue for Vehicle-to-Grid (V2G) Market is forecast to surpass US$ 4.31 billion in 2024, with strong revenue growth through to 2034. Escalating Demand for Electricity, Coupled With a Global Commitment to Reduce Reliance on Fossil Fuels, Resulting in a Surge in the Adoption of Electric VehiclesThe vehicle-to-grid (V2G) market is witnessing unprecedented growth driven by a confluence of factors shaping the future of sustainable transportation and power management. Key drivers include the escalating demand for electricity, coupled with a global commitment to reduce reliance on fossil fuels, resulting in a surge in the adoption of electric vehicles (EVs). This market is characterized by opportunities that lie in the integration of renewable energy sources, such as solar and wind, to meet energy demands, while also addressing challenges associated with the variable nature of these sources.The primary driver for the V2G market is the escalating demand for electricity worldwide. Governments and industries are increasingly recognizing the need for sustainable and low-emission solutions, driving the widespread adoption of EVs. The electrification of the transportation sector not only addresses environmental concerns but also provides a unique opportunity for EVs to serve as mobile energy storage units. This bidirectional flow of power, where EVs can both draw and supply energy to the grid, is a key driver propelling the V2G market forward.Opportunities in the V2G market are abundant, particularly in the integration of renewable energy sources. As countries strive to meet ambitious renewable energy targets, V2G technology becomes an enabler for managing the intermittent nature of solar and wind power. This creates opportunities for smart grid solutions and advanced energy storage systems. Additionally, the idle times of parked EVs present an untapped opportunity for bidirectional ...Full story available on Benzinga.com
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