Meaningful Vision’s latest report, analysing data collected from over 100 fast food chains in the UK, reveals the wide range of promotional strategies deployed by restaurants and delivery aggregators.
Special price offers emerged as the preferred strategy among price promotions in 2023, increasing from 64% to 71% in restaurants, and from 21% to 23% for delivery in 2023.
Campaigns offering a percentage discount, particularly prevalent among delivery aggregators, escalated from 35% in 2022 to 40% in 2023, while maintaining a steady presence at around 10% in restaurants.
Free or extra products accounted for 15% of all promotions across all channels and remained stable at this rate throughout 2023.
Notably, delivery aggregators have made a concerted effort to attract more customers by increasing the percentage of free deliveries, from 16% in 2022 to 19% in 2023.
Maria Vanifatova, CEO of Meaningful Vision, remarks, “In the past year, we’ve seen a significant surge in promotional activities within the fast-food sector. Our data indicates a 15% increase in promotions in 2023 compared to the previous year. We believe this increase is a response by fast-food operators to the challenging conditions in the wider economy, with the aim of rewarding existing customers while attracting new business through offering better value.”
Read the full story here.
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