Profit-Driving Promotions in 2017
Despite an improving economy, disposable personal income growth has slowed compared to 2015 and consumers continue to search for savings. The good news? Specials and promotions that are increasingly likely to drive traffic include coupons and limited-time-only promotions.
While price is a driving force in the value equation, there are other important aspects that factor in. For example, product uniqueness in the retail bakery universe plays a significant role. New York City’s Magnolia Bakery is leveraging the popularity of the Netflix series Master of None by creating a line of cupcakes that are based on the fictional show Clash of Cupcakes featured in the series. Flavors include The Scott Thompson, a carrot cupcake topped with cream cheese icing. The cupcake’s name is a reference to Carrot Top’s real name.
Philadelphia-based Federal Donuts recently offered its customers a special treat that had been previously been made for a series of concerts in New York City. From July 21 to August 6, the shop helped treat fans of the popular band Phish during its recent concert tour of New York City’s Madison Square Garden, with a series of donuts known as the Baker’s Dozen. Six of those flavors were then made available to customers at Federal Donuts in Philadelphia.
Coming up, Dunkin’s Donuts recognizes that pumpkin is coming soon, so to welcome the fall favorite, the retail bakery chain has enlisted the internet sensation and king of memes himself, Dancing Pumpkin Man. “Dancing Pumpkin Man, by definition, has to be excited about the arrival of fall and pumpkin-flavored anything. Plus, I’m a huge Dunkin’ Donuts fan in real life, so I’m thrilled to help celebrate the return of all things pumpkin at Dunkin’,” says the real-life Dancing Pumpkin Man and Internet sensation Matt Geiler, who was a former news anchor in Omaha, Nebraska.
According to new research from Technomic, 48 percent of consumers ages 18-34 say they are seeking out higher-quality menu items than they were two years ago. Of note, 31 percent of consumers say they use deal apps and websites. Among these consumers, 43 percent do so on a weekly basis. “Operators will increasingly focus on value that is driven by quality, service and convenience to meet rising consumer demand,” explains Kelly Weikel, director of consumer insights at Technomic. “As expectations for convenience increase and new technology emerges, offering the right mix of tech-based amenities will be key to enhancing the value proposition.”