Fast-food outlets and restaurants are offering aggressive price-offs, happy hours, value meals and deals, as they try to tempt back consumers who have deserted them because of a significant increase in menu rates over the past few years.
Food retail sales slowed down by 5% in the January to March quarter compared with the year-ago period, prompting the industry to dole out its most aggressive promotion and value deals since 2008.
"Value propositions are the way forward even if it means lesser margins. It's better to have consumers walk in by offering attractive deals than not having them come in," says Virag Joshi, president and group CEO of Devyani International, the franchisee partner of KFC, Pizza Hut and Costa Coffee.
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Food retail sales slowed down by 5% in the January to March quarter compared with the year-ago period, prompting the industry to dole out its most aggressive promotion and value deals since 2008.
"Value propositions are the way forward even if it means lesser margins. It's better to have consumers walk in by offering attractive deals than not having them come in," says Virag Joshi, president and group CEO of Devyani International, the franchisee partner of KFC, Pizza Hut and Costa Coffee.
Source
Search for Steward positions in Restaurants>