Outback Steakhouse has become a successful chain in Brazil, where it has found a home due to the country's large consumer market, rising middle class, and food culture centered around beef. Outback Brazil has grown significantly, with sales increasing by 61 percent and traffic by 42 percent in the first half of 2023 compared to the previous year. The American twist on Australian-inspired BBQ has worked well in Brazil, where themed restaurants and promotional discounts have become highly sought after by younger consumers. Though Brazil remains vital to Bloomin' Brands, the company must take strides towards diversification, as Outback Brazil generates 83 percent of the company's international sales and nearly half of its entire global footprint.
1. Outback Steakhouse has a significant presence in Brazil, generating 83% of Blooming Brands' nearly 500 million dollars in international sales.
2. In the first half of 2023, Outback Brazil saw sales grow 61%, traffic increased by 42%, and the average check by 19.2% compared to the same time in 2022.
3. Outback's sales in Brazil accounted for 16% of its global sales in 2022, with 139 stores and 405 million dollars in sales.
4. Brazil's rising middle class and culture centered around beef have contributed to Outback's success in the country.
5. Themed restaurants and promotions like half-price drinks and bundle entree meals have also driven Outback's success in Brazil.
6. Outback Brazil's success has been crucial to Blooming Brands, but the company faces challenges in diversifying its revenue.