Cracker Barrel rebrand blunder: Wharton's Americus Reed on what's next for the dining chain

Branding & Marketing - Cracker Barrel's new logo and $700 million brand overhaul are facing backlash for abandoning its country roots [1] - The new logo is considered bland and boring by some [1][2][7] - Social media is outraged by the simplified logo, which is seen as an attempt to modernize [3] - Marketing 101 suggests tweaking the logo and having a story ready to explain the change to consumers [4][5] - Testing the logo with loyal customers beforehand could have prevented the negative reaction [6] - Steak and Shake is using Cracker Barrel's misfortune as an opportunity to promote its own brand [11][13] - A suggestion is made for Cracker Barrel to pull a "New Coke" and revert to the old logo [15] - Backtracking on the logo change could signal that the company doesn't know what it's doing [17] Financial Performance & Stock Market - Cracker Barrel's stock fell about 10% following the branding blunder [2] - Over the past year, the stock is up 34%, but down 53% from its peak in 2021 [7] - Analysts suggest that social media outrage can cause panic, and Cracker Barrel should remain steady [14] Consumer Perception & Strategy - The move towards simplicity may appeal to younger consumers [9] - It's important to consider who the brand is for, as consumer preferences change over time [9] - The company should wait for more data to see what the totality of consumers are actually saying [20]