Chart of the Week: The Power of limited time promotions
LTOs represent around 14% of QSR chains' menu offerings.
Most promotions are time-sensitive: special price promotions usually run for a limited period, typically lasting 30 to 60 days.
According to data from Meaningful Vision, 13% of all promotions run by QSR chains are Limited Time Offers (LTO). These promotions represent 14% of the chains' menu offerings and cover all categories, including main meals, combos, drinks, sides, and snacks.
LTO promotions are primarily offered through apps and loyalty schemes. The discounts offered during LTOs can be as high as 60%, which is twice the market average.
Maria Vanifatova, CEO of Meaningful Vision Ltd,, stated that LTOs and seasonal offers are essential instruments for QSR chains' promotional activities. They allow restaurants to create a sense of urgency and excitement among customers.
"Limited-time offers and seasonal promotions generate anticipation and encourage customers to try new menu items or visit the restaurant before the promotional period ends. This, in turn, can significantly boost foot traffic and sales during specific periods, helping restaurants navigate through challenging economic times," Maria said.
Read the whole study here.