The Situation
For 60 years, IHOP has been America's unrivaled pancake house. But going into 2018, industry headwinds, mounting competitive pressures, and changing consumer tastes were exacerbating an already challenging environment. The brand was fighting to overcome flat to declining sales and the worsening traffic erosions they had been experiencing since mid-2016.
To top it off, as the only growing meal occasion, the breakfast space was becoming increasingly crowded at a pid pace. Everyone from large-scale chains to emerging concepts were capitalizing on the popularity of all-day eakfast. Consumers looking for convenience were turning more to more grab-and-go menu alternatives,...