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Consumers want more choices when it comes to value
When it comes to choice, consumers are flexing their muscles and saying, "If you want our business, we want more value." Steve Noviello explains how companies are answering that call.
DALLAS - The Federal Reserve is reporting "slow and steady" progress in bringing down inflation. But many shoppers say that’s not fast enough. They want relief now.
Some companies are answering that call. Others are simply feeling consumers flex their muscles, saying, "If you want our business, we want more value."
Chipotle took the brunt of social media backlash when customers started noticing increased prices paired with smaller portion sizes.
Customers at the fast-casual chain even issued a TikTok "Chipotle Camera Trick Challenge," in which people pointed their cameras at workers to pressure them into putting more on their plates.
While the company denies any directive to reduce portion sizes, the CEO announced on an earnings call this week that leadership is emphasizing training and coaching to ensure generous portion sizes remain a core brand equity for Chipotle.
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Meanwhile, McDonald's introduced a limited-time $5 value meal program. That four-week program is now being expanded in most United States markets.
The $5 meal deal includes a choice of a McChicken or McDouble, four-piece chicken McNuggets, small fries, and a small drink.
It seems bringing value brings customer traffic back up.
Target launching denim take back event. Here's how it works
The retail giant’s new denim promotion begins in August and here’s what you need to know.
Target is also banking on discounts to bring in back-to-school shoppers.
The company announced a new Denim Take Back Event from Aug. 4 – 10. During this event, customers can receive a 20% discount on new denim purchases by dropping off used denim from any brand in any condition.
Stores will have a specially marked drop-off box where customers can scan a QR code and get their 20% off coupon via the Target Circle app.
Target plans to recycle the old denim into new products.
New jeans start at just $10.