Pub Grubs 2-4-1 meal deals are the day of stress and sweat for all chefs in the hospitality industry.
In our current society, there is excessive demand for low priced meals but equally high quality standards. Years ago, this concept would have been ridiculed and believed to have never worked. But it has happened and it’s succeeded.
Mitchell’s and Butler, one of UK’s well known restaurant operators, own successful brands like Crown Carveries and Harvester. Their restaurants offer daily deals such as two meals for a fiver and Sunday roasts for £3.50, and they have set high bars for competitors. Their reports for 2011 have shown total food sales up by 7.8 per cent and drink sales up by 2.3 per cent.
The obvious synergy causes surrounding restaurants to also offer meal deals too; The Slug and Lettuce offer 50 per cent Mondays and 2-4-1 cocktails every night of the week. Wetherspoons offer deli deals starting from £3.99 with a drink included, and even Dominoes offer 2-4-1 on pizzas with a free delivery.
Through the aid of marketing, customer perception can be changed to believe they are saving money: no wonder figures are growing for people taking and eating out; these meal deals are consumer magnets that attract people to the best deal. The Office of National Statistics states that people eating out has increased by £22.2 billion since 2000, making the figure rise to a whopping £43.5 billion in the first three months of 2011.
Sections of the hospitality industries boom off these offers, usually reaching their full capacity on these nights, which allow these companies to still maintain profit margins with the volume of customers through the door. The hospitality industry will ideally make a 100 per cent profit through food sales, but by decreasing their profit margin and increasing sales, the 2-4-1 marketing plan aims to increase their revenue.
Presuming 2-4-1 meal deals are penny makers, could they be penny savers for you?