Inflation-weary consumers have pulled back from eating out — much to fast-food companies’ chagrin. In response, the big players have all offered “value meals” for the Summer. However, Domino’s CEO Russell Weiner has recently made critical remarks about these promotional stunts…
Right now, limited-time discount deals are all the rage among fast-food restaurants. Notable examples include a $5 McDonald’s value meal and Taco Bell’s Luxe Cravings Box.
But not everyone is jumping on the meal deal bandwagon.
Domino’s CEO, Russell Weiner, has vocalized his sentiment that these promotions don’t benefit the customers…
“IT’S LIKE, ‘HEY, THE REST OF OUR MENU IS EXPENSIVE, BUT YOU CAN GET THIS ONE THING YOU MAY OR MAY NOT LIKE CHEAPER. IF YOU WANT A BIG SANDWICH AND YOU END UP GETTING A LITTLE SANDWICH CHEAPER, YOU’RE NOT HAPPY.”
Quote via Business Insider
And maybe these other eateries should listen up. While burger brands like Wendy’s stocks have fallen 14%, Domino’s has risen 3%.
Weiner attributes that steady growth to a more holistic approach to dealing with price concerns…
Domino’s CEO Prefers Sustainable Value Approach
There are two main gripes that Russell Weiner has with the value meal trend:
- Diners only get discounts on select items they may or may not want.
- These price reductions are temporary.
In contrast, the pizza chain regularly does deals on its entire menu. Additionally, the brand has a “Mix and Match” offer where customers can choose two items for $6.99.
Domino’s has kept this promotion going since 2009.
The jury is still out on whether the competition’s campaigns will pay off. Nonetheless, right now Domino’s CEO Weiner’s method is keeping his restaurants stable while not significantly lowering price…
Be Great,
GCTV Staff
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