At the end of the day, Cracker Barrel’s stumble and recovery underscore one enduring truth: brands belong to customers, not companies. Executives and designers may draw the logos, but it’s customers who decide what they mean.

The restaurant chain’s new CEO, Julie Felss Masino, laid out the argument to investors last year: Cracker Barrel’s customer traffic was down 16% compared to 2019. Research showed consumers thought the brand fell short of competitors in essential ways, from the quality of the food to value and convenience.