The Notion of Value: it’s Importance to Restaurants and Customers
With the sluggish and uncertain economy and the rising costs of gasoline, many businesses are strategizing over ways to retain customer loyalty and patronage. Austin area restaurants are certainly no strangers to this dilemma.
But with supply costs rising, restaurants are simply not in a position to slash menu price points across the board. So what it comes down to is finding ways to remind customers that they are appreciated and valued, even while fighting the battle of rising costs. We spoke to a number of Austin restaurants and they are most concerned about offering value to their customers. Here’s what some are doing.
Chez Zee, for example, is offering five good bottles of wine for $10, each day of the week. We’re not talking Boone’s Farm here: rather wines like JP Tinto from Portugal, Papio Chardonnay from California, and Cruz de Piedra Garnacha from Spain just to name a few.
Or how about The Bakehouse? Owner Carl Zapfe is offering an 8-oz. Prime Rib with soup or salad, potato and vegetable every weekend for only $12.99? The Bakehouse recently celebrated its 25 year anniversary and has achieved almost iconic status in South Austin as a genuine “joint”.
Another coup for seniors can be found at the delightfully eclectic Veranda off Andeson Lane. Adults 59 and over receive a 20% discount off all dinner entrees and a 30% discount off Sunday brunch. Now that’s value!
Downtown in the Warehouse district, Imperia is doing 2-1 Sushi each night until 8pm. Chef Tatsu is knocking them dead here with a variety of rolls and nigiri sushi. Had some of his rolls the other night and they were the bomb!
In a serious stab at value, one of our favorites, Louie’s 106 is discounting every bottle of wine (regardless of price) by 50% on Sunday evening. Also, on weekdays, happy hour has half-price appetizers and glasses of wines and cocktails for $1.00. That’s right! You read it correctly.
McCormick and Schmick’s at 4th and Congress, while working to hold regular menu prices steady as a value to customers, has really ramped up the value in the happy hour bar menu. Here’s what you can get from 4-7pm for $1.95: Cheese Quesadillas, Debbie’s Good ‘ole Chicken Wings, a Half-Pound Cheeseburger with Fries, Mediterranean Hummus, Flat Bread Pizza, Bruschetta, and a Trio of Satays.
Cool River on Parmer Lane is running a 22-24 oz. bone-in prime rib Thurs-Sat evening with a wedge salad and choice of dessert and a side for $29.95. This represents a 30% savings and is good through Labor Day. They are also doing a half-price appetizer special nights from 10pm to 1am!
The bottom line is this: Most customers don’t expect restaurants to slash prices across the board. They know that’s unrealistic. Heck, even holding prices steady is a real struggle as food costs rise incrementally. But as good business people have known for years, a little “value” goes a long way in building good will and patronage.
