In response to the ongoing cost of living crisis, QSRs are adopting new strategies to keep customers coming through their doors.
One strategy that’s making waves is the increased use of promotional offers. Recent data shows that promotional activities have surged by 10% in the first half of 2023 alone. This trend is not just a passing fad; it’s a powerful tool that can help your restaurant stand out in a crowded market.
The Magic Formula For Adding Value
Adding value to your offerings is key to winning over budget-conscious customers. Here are some easy steps to enhance your promotions:
1. Bundle Up with Combos and Meal Deals
Combo meals and meal deals are a hit among customers seeking value-packed options. They’ve become a prominent feature on daily menus, with nearly a quarter of top QSR chains’ offerings including combo deals. Think of a main meal, a side, and a drink – a complete package that saves customers money and adds convenience.
2. Embrace Percentage Discounts
Customers are attracted to deals that offer real savings. Price reductions, whether through special offers, limited-time discounts, or coupons, are enticing options that grab attention. According to data, nearly 70% of all promotions in 2023 are centered around price reductions.
3. Free and Extra Products
Boost customer loyalty and satisfaction by including free or extra products in your deals. This strategy not only adds tangible value to your promotions but also enhances the overall dining experience. It’s no wonder that this technique accounts for 16% of all successful promotions.
Which Items Work Best for Value Offers?
Not all products are suitable for value meals however, as some may have low margins, high costs, or low demand. To help you choose the best products for your value meals, we have compiled a list of top menu item features that make them ideal for value meals. These features can help you save time and labor costs, increase your profits, whilst keeping your customers satisfied.
- Fully cooked and ready to eat products can be prepared in minutes from thaw or frozen, using a microwave, oven, or fryer. This saves time and labor costs for the operators and ensures a consistent quality and taste for the customers.
- Choose items that are versatile and adaptable to suit different menu options and occasions. They can be served as burgers, sandwiches, wraps, salads, or bowls with various toppings, fillings, sides, and drinks to create different combinations and offers. Products like Big Al’s Crispy Shredded Chicken are perfect to incorporate into all sorts of menu items.
- Popular and familiar products appeal to a wide range of demographics and occasions, from breakfast to dinner, from kids to adults. They offer classic and comfort food that customers love.
- Seasonal and festive products celebrate special occasions or events. They can be themed or customized to match different seasons or holidays, such as Halloween, Christmas, or Valentine’s Day. (Check out our blog post on Limited Time Offers and how they can get more customers in the door!)
- Portion controlled and individually wrapped products make them easy to store, handle, and serve. They also reduce food waste and allow for accurate cost management.
Ready to make your promotions pop?
Request our meal deal Point-of-Sale (POS) materials, meticulously prepared to amplify the visibility and impact of your offers. These materials are visually appealing and communicate the value of your promotions effectively, driving more foot traffic to your establishment.
Quick Stats: The Power of Promotions
- 70% of promotions in 2023 focus on price reductions.
- Price promotions entice customers with special price offers (45%), limited-time discounts (24%), and coupons.
- Meal deals, offering a complete dining experience, feature in almost 23% of top QSR chains’ menus.
As the QSR landscape continues to evolve, adapting to changing customer preferences and economic conditions is crucial. By leveraging the power of promotions, you can provide unbeatable value, trendy offerings, and exceptional quality.
Looking for more ideas for Meal Deal menus? Check out ‘The Art of the Meal Deal’!
