Thursday, January 08, 2009
Taco Bell & Popeyes Want Your Pocket Change
"Got any spare change?"
Fast Food companies know you're desperate to save every dollar in this tough economy. That's why they're counting on your loose change- literally and figuratively.
McDonalds dollar-menu success must have inspired its competitors to follow suit. Last night, I was watching the Duke vs. Davidson game on ESPN, when I saw the new cheesy double beef burrito commercial from Taco Bell. In the ad, a nerdy-looking customer retracts his change from theStarbucks tip jar to spend it on Taco Bell's 89-cent burrito instead.
I also watch a Popeyes ad with another humorous portrayal of our dire straits. The scene shows a man digging around for quarters in a washing machine at the laundromat. He emerges with gloating smile and handful of six quarters- just enough to buy the new Bayou Buffalo Chicken Wrap. On Popeye's website, the Wrap is the featured item, and here's an excerpt from the description:
Check the change machines at your local car wash, laundry mat, dirty clothes hamper, wherever. Because starting today, six quarters is all you need for zesty Louisiana flavor at Popeyes.
While the major chains are crafting new themes for their campaigns, locally-owned restaurants are struggling just to survive. Eating at home opposed to dining out helps our personal checking account, but it's killing the restaurants on your town'sl main street.
According to the NFIB, restaurants and retailers account for 30% of American small business, and the NFIB's most recent survey showed small businesses suffered the worst sales declines in the 35-year history of the survey.
Restaurants have always been a risky business venture, and the fore-mentioned reports make me wonder if investors will shift their focus to establishments that specialize in snacks and desserts
Personally, I've been preparing more meals at home. The way I look at it, I would rather spend just a few bucks on dessert, rather than a full-course meal for $20. Many of my friends have also cut-back on dining out. I wonder how many of you have made similar adjustments to your budget?
By Matt O'Hern at 01:03 PM | Comments (1)