Crazy Thursday, or “疯狂星期四” in Chinese, is a promotional event hosted by the popular fast-food chain KFC. This event takes place every Thursday, during which KFC offers substantial discounts on various items from its menu. These discounts can often be quite significant, reducing the prices of KFC meals to a fraction of their original cost. As a result, many customers eagerly visit KFC outlets on Crazy Thursdays to take advantage of these deeply discounted prices, making it a busy and popular day for the restaurant chain.
KFC’s promotional event sparked the proliferation of ironic memes on Chinese social media platforms, collectively known as “Crazy Thursday literature” (疯四文学).
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Chinese consumers are getting more rational
Chinese consumers have grown more prudent in their spending habits, driven by uncertainties about the future. Despite a slight increase in expenditure, spending levels in China continue to remain significantly below pre-COVID levels. Christine Peng, head of the Greater China consumer sector at UBS, emphasizes that caution remains a prevailing trait in Chinese consumer behavior.
Diminishing allure: The changing landscape of China’s shopping festivals
In the past, shopping festivals held great importance, and all major online streaming and video platforms, including Pinduoduo, Douyin, Kuaishou, and Xiaohongshu, launched their own shopping extravaganzas, vying for a share of the market.
Nevertheless, the results of these efforts might not be as impressive as one would assume. According to a survey conducted by YiCai (第一财经), it appears that the charm of shopping festivals is losing its luster: 75.3% of 400 respondents indicated a decreased willingness to purchase products during the “618” event compared to the previous year. Furthermore, nearly 60% of them opted for a budget range of RMB 300-500, while only 10% had a budget of RMB 2,000 and above. Although over half of the 400 respondents stated that the discounts offered during 618 event in 2023 were more substantial compared to previous years, they are still reluctant when it comes to making large purchases during this period.
Moreover, according to Syntun’s research on the sales growth across six categories during 618, the sales data for “hygiene products,” “grain and oil,” “snacks,” and “fitness and sports” all indicates that the growth in 2022 exceeded that of 2023.
As “618” and “Double 11” shopping festivals wane in popularity, it’s vital to assess the impact of recurring events like “Crazy Thursday” in engaging customers and enhancing sales in the evolving post-pandemic Chinese consumer market.
How ‘Crazy Thursday Literature’ fueled growth
While “KFC’s Crazy Thursday” dates back to 2018, it didn’t truly capture significant attention until late 2021 when “Crazy Thursday literature” became a well-known phenomenon, especially among Chinese youth.
For an example of the discounts during Crazy Thursday, the case of Hot & Spicy Wings (热辣香骨鸡) can serve as an illustration. Originally, this item was priced at RMB 12.5 for a set of three. However, during Crazy Thursday, customers could enjoy a substantial offer, allowing them to acquire 15 wings for just RMB 19.9. These impressive discounts certainly caught the attention of consumers. In contrast to “11.11” and “618,” the strategic weekly scheduling of Crazy Thursday has fostered customer loyalty and consistently boosted foot traffic to KFC stores.
KFC witnessed a consistent growth trajectory from 2016 to 2019, but faced a decline in 2020 as a result of the pandemic. However, this trend reversed in 2021, largely influenced by the growing popularity of ‘Crazy Thursday literature.’ In 2022, KFC China generated USD 7.2 billion in revenue, marking a nearly 3% increase from the previous year.
Crazy Thursday vs 618
As shopping festivals lose some of their previous appeal, weekly promotions could gain importance in the post-pandemic era. This shift can be attributed to changing consumer habits, including a greater emphasis on savings due to income decreases during the pandemic and concerns about the future. People now value even modest savings as a source of financial security. This change in mindset has resulted in reduced guilt associated with spending on essential items, with individuals prioritizing securing basic necessities over indulging in luxury purchases. By focusing on providing value, emphasizing essential products, and offering attractive deals on everyday necessities, retailers can better attract and retain cost-conscious consumers.
Beyond Crazy Thursday: Creative promotions emerge in China’s dining scene
Crazy Thursday from KFC has sparked a trend of inventive promotions in China’s fast-food industry.
Chinese McDonald’s has introduced an event known as Fun Monday (嗨翻星期一), which shares similarities with KFC’s Crazy Thursday. In this promotion, registered McDonald’s members have the opportunity to enjoy various snacks and beverages for free, including items like the McCrispy Chicken (麦麦脆汁鸡). However, due to the widespread popularity of Crazy Thursday literature, many consumers are more familiar with Crazy Thursday and may not be as aware of the Fun Monday event.
Furthermore, Tastien (塔斯汀), a fast-food brand in China that produces Chinese-style hamburger, launched Membership Tuesday (周二会员日), allowing customers to buy a second hamburger for just RMB 1 every Tuesday. Burger King introduced its King Wednesday (汉堡王国王日) promotions, where customers can enjoy one burger and one beverage for only RMB 9.9 on Wednesdays. Last but not least, during Pizza Hut’s Screaming Wednesday (尖叫星期三) the US pizza restaurant chain offers substantial discounts for customers to relish.
KFC pioneers weekly discounts with its Crazy Thursday
- Despite the significant discounts offered during this year’s “618” event, customers exhibited a decreased willingness to make purchases.
- There has been a shift in general consumption patterns following the pandemic, with people prioritizing saving money to address potential uncertainties.
- The popularity of Crazy Thursday and its associated literature has contributed to the growth in sales for KFC in recent years, as evidenced by the increasing revenue.
- Crazy Thursday has now become a trend that F&B brands are attempting to emulate by offering discounts on the same day of each week. This event by KFC is just a start.
