New Delhi, Dec 24 Meal deals, originally invented to entice consumers during high inflation, have emerged as a significant offering in the food service sector, particularly at quick-service restaurant (QSR) establishments in the Asia-Pacific (APAC) region, according to a report on Tuesday.
Meal deals are characterised by a combination of a main item such as a burger or a sandwich, a snack, and a beverage, sold in combination at a lower price than the sum of the individual items.
The report by GlobalData, a data and analytics company, showed that this pricing strategy makes meal deals attractive to consumers seeking affordable lunch options, especially during challenging economic times marked by rising inflation.
“Despite the economic pressures from inflation, the meal deal market has shown resilience. The hybrid working patterns post-pandemic have made it difficult for retailers and food service operators to predict demand for weekday lunches,” said Bokkala Parthasaradhi Reddy, Lead Consumer Analyst at GlobalData.
“However, meal deals remain popular among workers and students, indicating that they fulfill a need for convenience and value. The prevalence of meal deals is also notable at QSR outlets, where they now rank among the most popular menu items, appearing in over half of restaurant menus,” he added.
The report said more than affordability, taste, quality, and variety also matter in this meal deal.
As a result, some operators have innovated the deal by offering high-quality meal kits or unique dining experiences, which not only offer financial savings but also are in line with their personal preferences and lifestyle choices.
Further, the report showed that younger consumers, particularly Gen Z, are more likely to seek out these affordable alternatives
“This demographic’s inclination towards meal deals emphasises the necessity for foodservice brands to innovate and adapt their offerings to meet these demands,” said Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and ME, GlobalData.
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