Bring in more traffic by losing money. Works every time.
It's a shell game.
“Bring in more traffic by losing money. Works every time.”
That’s what they teach at the “Joe Biden School of Economics.”
We are losing money on every sale...
That’s okay, we’ll make it up on volume.
Honestly will see if it turns into anything for red lobster.
Lets face it Denny’s completely turned its trajectory around when it started that 1 day a year free meal thing.
Losing money short term if it does show long term growth may pay off... However, I am kind of hard pressed to believe that is going to happen.
I’m not a seafood guy, so Red Lobster is never on my list to consider.. about the only thing other than the steak that is on their menu that I would ever order would be the Popcorn Shrimp. If I was ever forced to eat there.
I think Red Lobster is like many of those types of businesses, the target market needs more value than they are able to give or the price points they charge... they aren’t high end places, and they aren’t low end places... but their prices have crept up while the quality and value has declined.
That overall is nearly always a disaster long term.
I’d put places like Olive Garden, And many of the fast casual dining places in the same boat. When it costs 70-80 with tip if not more for 2 parents and 2 kids to eat a nothing special meal (fast casual places)... why not stay home save up the extra 20-30 and hit a nice restaurant.. another time?
And places like Red Lobster, unless you stick to the cheapest options you are dropping at least $100 for a family of 4 with tip... you can get more value for that price and better food somewhere else in most areas.