The quick-service restaurant sector (QSR) has seen year-on-year growth in many parts of the world. In the United States, however, consumer spending declined by approximately seven percent in 2019. That year, all of Yum! Brands’ subsidiaries were listed among the ten most valuable QSR brands worldwide. With a brand value of over 17 billion U.S. dollars, KFC is by far the most profitable of the three subsidiaries. The famous American fast-food franchise has driven revenue figures for its parent company for several years, and it also accounted for over half of Yum Brands’ reported global revenue of 5.6 billion U.S. dollars in 2019. While the Pizza Hut and Taco Bell Division have been generating less revenue than their Kentucky-based counterpart in the past, both brands have steadily increased their revenue figures since 2017.
Although global revenue has been decreasing in recent years, Yum! Brands is consistently venturing into new markets, expanding its global operations, and growing its worldwide unit count. In 2019, the company operated over 50 thousand mostly franchised restaurants in more than 150 countries and territories. KFC accounted for the largest number of establishments that year with more than 24 thousand units worldwide, while also having the most locations. Compared to KFC’s presence in 144 countries, Taco Bell, an American chain of Mexican-inspired quick-service restaurants, had international outposts in only 29 other regions. In terms of sales per unit, however, Taco Bell ranked above its sister companies in 2019. Of all three restaurant chains, Pizza Hut holds the highest American customer satisfaction index score. That said, the brand also faces the toughest competition in its category, as successful pizza franchises like Domino’s are consolidating their domestic leadership position and expanding their global reach.