Food for coupons

Restaurant coupons are most popular with the fast food industry, however as consumers increase their frequency of eating at home (considering it to be a healthier option), restaurant companies are using 'coupons' as the tool to improve their sale
Buzz about restaurant coupons

Depending on the way a purchase is done, be it ‘one get one free offer’ or ‘a certain percentage off the overall purchase’, restaurant coupons undoubtedly present substantial savings.

 

The trend

Restaurant coupons swear on offering savings to families and individuals, encouraging them to either try a new restaurant or remain loyal to one. Restaurant vouchers are always a popular option among customers. Most people enjoy going out for dinner and it always helps if they can save while enjoying themselves! “Restaurant vouchers sell especially well on our site on Wednesday and Thursday when people are planning their weekends,” avers Gaurav Kachru, CEO Deals and You.

 

“Of course, food and beverage do extremely well when we have our special holiday offers like the ones we had over Christmas, New Years and more recently on Valentines Day – all at the best restaurants at in every city,” adds Kachru.

However, Kunal Bahl, CEO and Founder, Snapdeal.com shares an interesting opinion in this regard. He says, “Restaurants is one of the bigger categories in this space, but is certainly not the only one. Health & Beauty services, branded products, Travel and Other Novelty services are also some of the categories which get featured.”

Bahl opines that Weekdays are more active for the purchase of the coupons, and the redemption typically is seen all across the week.

 

Target audience

It is understood that retailers treat this as a customer acquisition cost, and a much targeted marketing investment. There is no upfront cost from the retailer, and it is a complete variable model for them. Bahl says, “They are investing in prospective customers, to trial out their services, in the form of these discounts. Also, they reach out to a wide audience, within a very short span of time.”

 

Kachru comments, “Our target audience is educated, smart shoppers who want to enjoy the best in life and are conscious of the value of money and therefore look for great savings. Depending upon the service category (F&B, Wellness, Travel, Gadgets, Entertainment), the age and gender of our consumer can vary greatly but what is common is that they are all smart, value conscious & aware of the latest trends.”

 

It is learn through Kachru that the act of buying a voucher online and using it at the restaurant is very simple and transparent. He says, “We pride ourselves on our integrity and honesty when dealing with both consumers and retailers.”

 

Bahl opines that, “Our TG varies from 18-36 years of age group. The entire process is quite transparent. We furnish all the details pertaining to the offer and the restaurant, like Menu card, reviews etc. upfront on the website, in order to enable the customer to make an informed choice.”

 

Scheme changes

The offers that are put up on Snapdeal.com are typically for a time period of 2-3 days. “Validity typically last for a period of 45 – 60 days,” says Bahl. However, the deals on the ‘Deals and You’ site usually last anywhere between 3-4 days. “The voucher itself is usually valid for a month to three months after the date of purchase. There have been a lot of restaurant deals that have been so popular amongst our members that we have featured them numerous times on our site,” avers Kachru.

 

Referring to ‘happy meals’, At ‘Deals and You’, the same have not actively been contemplated but they do offer some all inclusive discounted meal coupons for buyers since they are into coupon promotion business. “Through Restaurant coupons, a retailer is aiming to reach out to a much wider audience, and publicize his services. Happy Meals, is a more of an in-store activity, to increase consumption, and the average ticket size of the restaurant,” comments Bahl.

 

Promoting offerings

Kachru shares, “With the large amount of the Indian public already internet savvy, our deals are largely promoted through social media and networking sites.” Facebook, Twitter and other social network platforms are an important medium that creates the vitality that helps promote deals in a great way. “We will also be launching our radio campaign later this month,” adds Kachru.

 

The offerings are getting wide acceptance among the Indian customers. “We have over 1.5 million subscribers currently, and are growing at the rate of a new subscriber every 4 seconds,” avers Bahl. Having said that, there is a lot of scope to further increase our reach and spread the benefits to our customers. Bahl further adds, “We promote our services, through a combination of ATL mediums (like TV, Radio, Out of Home), BTL platforms and online marketing.”

 

As understood, the success of building a website to promote local retail businesses is in having a very strong on ground business development team, who can build and nurture the relationships with each of these places.

 

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