I’m trying to be responsible and do some actual research on a YOLO.
I’m thinking BYND is going to continue to tank, but I started to get a little concerned when I read about Burger King’s potential success with the Impossible Whopper (www.cnbc.com/2019/10/16/the-impossible-whopper-is-driving-steady-traffic-to-burger-king-data-shows.html). Plus I’ve been seeing commercials for the Impossible Burger, so BK is clearly feeling good about it. I know the Impossible Whopper is not a BYND product, but if Burger King can do well with it then I imagine that BYND’s retail partners (McDonald’s, Dunkin Donuts, KFC, Tim Hortons) can do well with their plant based crap as well.
As I was looking at this coming week’s earnings I thought to myself that it would really suck if Beyond Meat came up on McDonald’s earnings call (Tuesday @ 11:00 AM ET), and they said that the test was going really well or something. I think it’s probably too early for them to make that kind of statement since the test began less than a month ago, but still the thought crossed my mind.
So I thought…I wonder how the BYND test is going at McDonalds. I started poking around to see what I could find and I have been relieved so far to learn the following:
– The McDonald’s product is named “P.L.T.” (or Plant Lettuce Tomato), significant in my mind for two reasons:
- No mention of the Beyond brand name, so even if the product does well, McDonald’s can work with another supplier (like what Dave & Buster’s just did to it’s Impossible Burger)
- It’s an ugly name and based off of name alone I’d much rather eat an Impossible Whopper than a PLT. I don’t know who would go to McDonald’s thinking “I’m definitely in the mood for plant right now”
– I found this article www.forbes.com/sites/michelinemaynard/2019/09/30/i-drove-to-canada-to-try-the-mcdonalds-plt-heres-what-it-tastes-like/#6c4a16d3367f which describes how there was minimal signage promoting the PLT at a McDonald’s in Ontario that is serving the PLT.
And since I live in Manhattan, and I get coffee at Dunkin’ Donuts 4-5 times per week, and Dunkin Donuts is supposedly testing a Beyond Meat Sausage Sandwich in Manhattan I started thinking about that test as well. I started checking my Dunkin Donuts app which I use to order on the go and I could not find the Beyond Meat sandwhich available on the app ordering menu at any locations in Manhattan (I checked about 10 locations). I also just emailed Dunkin Donuts support to see if they can help me locate the Beyond Meat sandwhich, and I’ll be getting a coffee there in the morning tomorrow so I’ll make sure to ask at the store when I grab my coffee. I am thinking that Dunkin might have scrapped the BYND test.
Lastly regarding the Dunkin Donuts partnership, the guy who Dunkin credits for introducing the Beyond Meat product at their stores (their CMO) just announced his departure from the company this week. That can’t be good for BYND if he was spearheading any efforts to promote their product.
Anyone else have local insight on what they’re seeing with any of the Beyond Meat restaurant partners – anyone in Ontario swing by Mickey D’s or Tim Hortons? Or alternative angles on this?
Disclaimer: Consult your financial professional before making any investment decision.