So how many of our vast and varied audience are here in the UK? Probably most of you. How many eat out a couple of times a month, again I would guess most people. And lastly, how many will check online for discount vouchers before making a dinning choice? Again I would now predict a sizeable majority.
According to research from Moneysupermarket.com, published on the NMA site consumers are making savings equivalent to £3 million per day. Perhaps unsurprisingly the bulk of the offers come from big chains with a potential reach over much of the country, and with the number of pizza parlours engaged in the discounting, it does make you think about the actual value of the end product. The vouchers though serve an important purpose in driving incremental footfall into a chain’s venues. As the use of vouchers becomes even more widespread, it is easy to see a time when team lunchtime outings will be determined by the availability of a discount.
So why have restaurant vouchers been so successful? I have my own theories about this, which I would welcome your feedback on. My thoughts are that.
• These vouchers tap into immediate discretionary spending, the availability of the voucher will help influence the choice of venue and whether a meal is had at all
• Many chain restaurants offer what are in effect very similar eating experience. Voucher availability creates a differentiation in the product offering
• People like to think that they’ve got a deal
My own feeling is that the use of vouchers initially for the small, impulse spends like a pizza augurs well for further take up down the line with bigger ticket items. Once the general public have become used to using vouchers the practice will spread, I also think that vouchers for entertainment will figure greatly in the development of monetization of the mobile internet, Orange Wednesdays, something that gets little attention these days should be seen as a trailblazer in this area.
Anyway it’s been a long week of news watching for me, and still feeling worn out by the exciting political events of the last few days. I’ll be back soon.
Rob, On-e
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May 14, 2010 @ 3:43 pm