A “Netflix for Tacos” pass is just the beginning of Subscription based Restaurants! 🌮🍽️🥩
A “Netflix for Tacos” pass is just the beginning of Subscription based Restaurants! 🌮🍽️🥩
Part One is all about What We Know in our two-part trend report.
WELCOME to $5.vc, your source of differentiated startup intel!
* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
** Join DM sessions & brainstorms? ☝️ >> Just follow our new Twitter! 👍
ICYMI in the last 10 weeks we covered:
Linkedin’s a meme! TikTok Resumes are trending! When Jobs & Gen Z collide!
$2B dropped into creator startups in the 1st 6 months of '21 alone!
#TikTokMadeMeBuyIt has 3.3 Billion views and counting!
NCAA Athletes start printing NIL (Name Image Likeness) Dollars!
Twisting Lux Brands + Depop + Gen Z in your favor!
TikTok goes after Fox, CNN, and MSNBC?!!
Search Engines are in such a mood…
Linkedin dropped the ball! Link-in-Bio is coming in hot!
Social Casino SMS Text Gaming is FIRE!
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* Restaurants + Subscriptions 🔥🔥
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ subscription based tacos!! saaay what?! ]
How subscriptions became quick service restaurants’ hottest marketing trend
- thanks gabriela! https://twitter.com/gabrielabarkho
This month, Taco Bell became the latest restaurant chain to launch a subscription service, by testing a “Netflix for Tacos” pass.
The pilot program, which launched at Tucson, Arizona locations, allows customers to get one taco a day for a monthly fee. The Taco Lover’s Pass pilot will run between September 9 and November 24, and costs between $5 and $10 for a 30-day pass.
Quick service restaurants have reason to drive digital sales — for example, a precipitous drop in foot traffic over the last year-plus as well as the rise of delivery services. Now, these companies are looking to build on the digital strategies that had been paying off.
>> [ its the UNLIMITED Panera coffee for me! ]
Panera’s unlimited coffee program has nearly 500K paid subscribers
- thanks heather! https://twitter.com/flourgrrrl
Panera launched the $8.99-per-month unlimited coffee offering in late February, just as the coronavirus was beginning to impact the U.S.
The fast casual signed up about 800,000 customers during its initial push, which included a significant number of free trials. Currently, it boasts nearly 500,000 paid subscribers, Panera CEO Niren Chaudhary told Restaurant Business.
So far, the coffee subscription is generating some solid metrics, Chaudhary said, chief among them:
90% incrementality
35% of subscribers are new customers
35% of coffee orders include food
>> [ would you like fries with that? ]
Why McDonald’s is launching a loyalty program
- thanks gabriela! https://twitter.com/gabrielabarkho
McDonald’s is the latest quick service restaurant to launch a digital rewards program to drive sales and gain consumer insight — and to encourage customers to download its mobile app. Rival Burger King also announced the rollout of its rewards program back in February.
As digital and mobile sales are increasing at fast food chains, they are looking for ways to collect more data on what these customers are buying and how often, and loyalty programs offer one way to do so.
MyMcDonald’s Rewards will allow customers to earn 100 points for each $1 spent, with the ability to earn points toward 16 various rewards via four tiers.
The mobile app is an integral part of the rewards process, and customers will have to scan their phone or place orders via the app to have purchases counted toward their rewards account.
>> [ no more casual — Iet’s be exclusive! ]
Would You Subscribe to a Restaurant?
- thanks rachel! https://twitter.com/rtsugar
Traditionally, coffee shops and casual sandwich joints have gone with loyalty programs, from buy-nine-get-one-free punch cards to extremely elaborate digital rewards programs.
But these are casual relationships. Panera wants to be exclusive.
And while Panera may be the first big name to go in on subscriptions, it isn’t (totally) alone. East Village dog-centric café Boris & Horton recently launched its own “membership” program, also offering unlimited drip coffee — among a host of other benefits — for the significantly higher price of $70/month. The membership-based coffee shop Fair Folks & a Goat — $25/month for unlimited beverages — also had a few good years in Greenwich Village before shutting down.
THE DOPE IDEA & THE BRAND EXECUTION:
* Taking the idea and amplifying that into tactical action.
See you next week for the second half of our two-part report.
We’ll discuss on how to position ourselves as a new player in the Restaurants + Subscriptions 🔥🔥 space — and get into the development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.