The fast-food industry is experiencing a significant surge in special offers, particularly in combo bundles or meal deals. These deals are considered as a good value for money by loyal and new customers alike, maintaining guest traffic even whilst real incomes are not growing. A recent report by Meaningful Vision, analysing data gathered from over 100 fast-food chains in the UK, compares the wide variety of promotions implemented across the industry.
Meal deals continue to reign supreme as the primary focus of special price promotions, representing 41% of all special price offers in 2023. The prevalence of meal deals in promotional offerings rose by 15% compared to 2022.
Pizza deals have emerged as a popular choice, catering to group orders, and offering greater perceived value for customers. Pizza is the most popular product under promotions, accounting for more than 38% of various offers. With the inherent shareability of pizzas, these meal deals provide an ideal solution for families or gatherings. Customers are enticed by the notion of receiving more for their money, aligning with the desire among many people to stretch their budget amidst rising living costs. In 2023 pizza promo deals increased by 5%.
With respect to other product categories, such as Burgers/Sandwiches, Hot Drinks, and Sides, there has been a decline in promotional offers.
Maria Vanifatova, CEO of Meaningful Vision, says: “The growth of meal deals is a response by fast food operators to the economic concerns of customers. With the rising cost of living, increasingly consumers are seeking ways to stretch their budgets. Meal combos typically offer a better value proposition than purchasing individual items separately, especially when they are offered at a discounted bundle price when compared with buying each separate item.”
Also available on QSR Media UK.
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