Special price offers, free delivery tops list of preferred strategy for price promotions in 2023

Campaigns offering percentage discount are prevalent amongst delivery aggregators.

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 amongst 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 amongst delivery aggregators, escalated from 35% in 2022 to 40% in 2023, whilst 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.

"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," Maria Vanifatova, CEO of Meaningful Vision, said.

Read the full story here.