Pricing is one of the most important processes for your business and a critical driver of financial performance. The current economic environment elevates the importance of pricing as a profit lever and careful consideration is required to ensure restaurants remain competitive whilst providing value to their customers.
We have worked with many high street restaurant brands, international chains, hotel groups and more to deliver pricing projects that drive both volume and revenue.
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Just some of the areas we have worked on include pricing strategy, promotions and loyalty, pricing optimisation and consumer research.
We also offer a comprehensive set of pricing and market insights, coupled with consumer insight, to deliver a super-powerful data source. This allows your food and beverage business to confidently make pricing changes whilst understanding how your brand fits within your competitor set.
We are focused on helping restaurants achieve lasting competitive advantage through better pricing and recently launched a market pricing dashboard to help restaurant operators understand competitor pricing, market position and consumer brand value perception. The dashboard combines in-depth competitor pricing (site/product level) AND robust consumer research, generating invaluable insights when planning new menus, price changes and understanding restaurants’ performance.
The dashboard evaluates and compares pricing strategies across brands, highlights competitor’s menu architecture, spots key trends/pricing changes over time, shows how customers perceive prices and the impact on purchasing behaviour and much more. the pricing data covers all key players and surveys thousands of individuals to capture consumer value and pricing perceptions.
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