Ever heard of IHOb?
If not, you will soon. Last Monday, social media went crazy when IHOP, the International House of Pancakes, announced IHOb as its new name on Twitter.
And what does the “b” stand for?
This sudden identity-swap for one of the most popular chain restaurants in the United States took Twitter by a storm. Seeing an opportunity, other food chains latched onto the trend by coming up with their own ideas to get in on the publicity stunt. Burger King temporarily became “Pancake King,” Netflix hinted at becoming “Netflib,” and Wendy’s took a crack at IHOb for trying out burgers because pancakes were “too hard” to make.
And yet, IHOb’s name change has sparked renewed interest across the general public, with the limelight placed on their recently-released Ultimate Steakburger menu. Their seven basic burgers have already been reviewed positively by several food critics and customers.
But why the need for a rebrand?
IHOP was known for doing well in the early morning and late night hours, a time when pancakes and other breakfast foods are most attractive. This did not apply to their midday sales, which had been dwindling over the past 10 quarters. A revamping of the lunch menu to attract customers into their stores for good, quality burgers seemed like the logical solution.
The results of this gimmicky rebrand appear to be positive. Since IHOb’s social media debut on June 5th, Dine Brands Global (DIN) stock rose by +5%. DIN owns IHOP and Applebee’s.
The question remains, however, if IHOb will see an increase in actual sales.
That’s up to the customers.