Summer is upon us and with it comes opportunities for restaurants to implement seasonal menu items and limited time offers. Most people associate summer with fruits, vegetables, salads, and chilled drinks, and this makes sense since summer brings soaring temperatures as well as the harvest season for many crops.
Topics: Foodservice, Limited Time Offer
A Limited Time Offer, or LTO, is an excellent way to boost business. Celebrating special occasions with temporary menu items, discounts, and promotions is a tried-and-true way to increase revenue and raise brand awareness. LTOs are popular for a reason: they work. Research conducted by Datassential in 2021 showed that 50% of surveyed customers claimed to have ordered an LTO in the past two weeks from the date of the survey. 75% of those customers said they will tell their friends about it, and 65% of them said they would return to the restaurant again to order something else. According to restaurant industry consultant Ryan Gromfin, “LTOs are powerful because of the fear of missing out.” In other words, the limited duration of the promotion or menu item compels customers to visit a restaurant sooner rather than later when it might no longer be available.
Topics: Foodservice, Limited Time Offer