I think I’m a little late on this news, but a few weeks ago while commuting to work I noticed that a Tim Hortons and Cold Stone Creamery opened up on Granville Street.
In addition to making my mouth water a little, it kind of baffled me. Why would a coffee chain and an ice cream chain decide to partner up? When I go into a coffee shop, I seldom crave ice cream, and vice versa (Besides, when I eat hot and cold foods immediately after each other, my stomach hurts). I mean, I wasn’t complaining. I remember back in the day, Cold Stone was only available in the U.S, so I’m happy that it’s finally come to Canada.
I was so curious that upon arriving at work, I googled news about the partnership between the two companies. According to Bloomberg Businessweek, co-branding will “offer customers a reason to visit … locations morning, noon, and night”, because Tim Hortons drives up tons of traffic during the morning and lunch-time periods, as it offers coffee, baked goods, sandwiches and soups, and Cold Stone peaks in the afternoon and evening as a mid-day snack or after dinner dessert.
“Our intention is to fill each other’s non-peak periods with new or even repeat customers.” says David Clanachan, Tim Hortons’ Chief Operations Officer.
Some may think that because Tim Hortons’ is more of a daily convenience good that easily fits into a busy lifestyle, while Cold Stone is an indulgent treat where customers are typically not in a rush, it would not work. But these differences actually benefit the company, as they do not cannibalize each other’s products, and draw both types of customers into the store, whereas normally they would not attract the other segment into paying a visit.
I visit Tim Hortons for my morning coffee on a daily basis, but now I would be tempted to pick up a treat because it’s conveniently placed and doesn’t require any extra effort. I am excited to see where Tim Hortons and Cold Stone takes this business partnership!