Tim Hortons to Redesign Locations
Tim Hortons and McDonald's Canada seem to be neck and neck with customer offerings. Providing customers with the newest menu items and even a better ambiance, both chains seem to be trying to up the ante while staying competitive.
Tim Hortons announced today the redesign of its locations to create a better experience for customers. Offering wi-fi, bench seating, softer lighting, a new floor plan and a more open kitchen, Tim Hortons locations are getting an upgrade.
On the competitive side, this seems like a good move from Tim Hortons, but is it just trying to stay up-to-date with McDonald’s? McDonald’s Canada announced a $1 billion redesign back in September, including additions such as wi-fi, a new floor plan, fireplaces and flat screen TVs.
This poses important questions: are these retail chains in a "anything you can do I can do better” war? Who is to gain from all these new additions, the customers or the companies?
Another recent example of the high competitive spirit between McDonald’s Canada and Tim Hortons was last week’s announcements of espresso coming to both chains. First revealed by Tim Hortons, McDonald’s Canada had an almost duplicate announcement less than a week later.
In the case of Tim Horton’s redesign and new coffee offerings, the company believes its update will improve the customer experience and encourage more customers to purchase new items while staying longer versus using the drive-through.
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“While specialty coffee represents a relatively small part of the overall coffee market, it is a growing segment,” executive chairman, president and CEO Paul House said to the Canadian Press. “We believe our entry with such a meaningful and relevant offering will reinforce our continued coffee leadership in Canada.”
Which will Canadian’s chose? Will they remain loyal to the country-based franchise that serves them their daily double-double, or will a US franchise prevail from its already global success? Either way, to win the competition, both Tim Hortons and McDonald’s Canada should move toward more benefits for their customers than profit margins. The more customers feel cared for, the more loyal they will become.
G7 Summit guide: What it is and what leaders hope to achieve
Unless you’ve had your head buried in the sand, you’ll have seen the term ‘G7’ plastered all over the Internet this week. We’re going to give you the skinny on exactly what the G7 is and what its purpose on this planet is ─ and whether it’s a good or a bad collaboration.
Who are the G7?
The Group of Seven, or ‘G7’, may sound like a collective of pirate lords from a certain Disney smash-hit, but in reality, it’s a group of the world’s seven largest “advanced” economies ─ the powerhouses of the world, if you like.
The merry band comprises:
- The United Kingdom
- The United States
Historically, Russia was a member of the then-called ‘G8’ but found itself excluded after their ever-so-slightly illegal takeover of Crimea back in 2014.
Since 1977, the European Union has also been involved in some capacity with the G7 Summit. The Union is not recognised as an official member, but gradually, as with all Europe-linked affairs, the Union has integrated itself into the conversation and is now included in all political discussions on the annual summit agenda.
When was the ‘G’ formed?
Back in 1975, when the world was reeling from its very first oil shock and the subsequent financial fallout that came with it, the heads of state and government from six of the leading industrial countries had a face-to-face meeting at the Chateau de Rambouillet to discuss the global economy, its trajectory, and what they could do to address the economic turmoil that reared its ugly head throughout the 70s.
Why does the G7 exist?
At this very first summit ─ the ‘G6’ summit ─, the leaders adopted a 15-point communiqué, the Declaration of Rambouillet, and agreed to continuously meet once a year moving forward to address the problems of the day, with a rotating Presidency. One year later, Canada was welcomed into the fold, and the ‘G6’ became seven and has remained so ever since ─ Russia’s inclusion and exclusion not counted.
The group, as previously mentioned, was born in the looming shadow of a financial crisis, but its purpose is more significant than just economics. When leaders from the group meet, they discuss and exchange ideas on a broad range of issues, including injustice around the world, geopolitical matters, security, and sustainability.
It’s worth noting that, while the G7 may be made up of mighty nations, the bloc is an informal one. So, although it is considered an important annual event, declarations made during the summit are not legally binding. That said, they are still very influential and worth taking note of because it indicates the ambitions and outlines the initiatives of these particularly prominent leading nations.
Where is the 2021 G7 summit?
This year, the summit will be held in the United Kingdom deep in the southwest of England, with Prime Minister Boris Johnson hosting his contemporaries in the quaint Cornish resort of Carbis Bay near St Ives in Cornwall.
What will be discussed this year?
After almost two years of remote communication, this will be the first in-person G7 summit since the novel Coronavirus first took hold of the globe, and Britain wants “leaders to seize the opportunity to build back better from coronavirus, uniting to make the future fairer, greener, and more prosperous.”
The three-day summit, running from Friday to Sunday, will see the seven leaders discussing a whole host of shared challenges, ranging from the pandemic and vaccine development and distribution to the ongoing global fight against climate change through the implementation of sustainable norms and values.
According to the UK government, the attendees will also be taking a look at “ensuring that people everywhere can benefit from open trade, technological change, and scientific discovery.”