TGIFriday's is taking appetizers, arguably the best part of any meal, to the next level. From now until August 24th, they are offering endless appetizers for $10. This promotion is definitely extreme for any chain restaurant (people can eat a lot of appetizers) but it is directly in line with the "World Cup Bounce," a financial bounce of about six percent increased value seen by other chain restaurants during the World Cup.
Last month, Buffalo Wild Wings experience a six percent stock increase as soccer lovers poured into the establishments for wings and beer. Bob Derrington of Wunderlich Securities coined the term "World Cup bounce" after witnessing hour long waits for tables, and standing room only beer consumption. While TGIFriday's is a privately held company, the stock bounce is a reflection of increased profits, which they are aiming to boost with the endless appetizer promo.
Derrington points out this "bounce" occurs during longer sporting events, like NCAA March Madness. The TGIFriday's promo falls towards the end of the World Cup, the middle of Wimbledon and will end just as the U.S. Open kicks off. When this promotion was briefly tested earlier this year, the TGIFriday's marketing office found that food and drink sales did increase, however, not many customers took advantage of the endless appetizer promotion. They are hoping to see a boost in orders this time around.
For those of you looking to eat all of the apps, here are the TGIFriday's endless appetizer ground rules:
- All the signature apps are included, including the loaded potato skins, a personal favorite.
- $10 only covers one kind of appetizer. That means you can't get unlimited wings, skins and sticks. Just one at a time.
- Bring friends, as TGIFriday's won't be enforcing a no-sharing rule. Brian Gies, chief marketing officer, told USA Today, "At the end of the day, our servers aren't policemen. We're not going to slap someone's hand if they reach over and share someone else's mozzarella sticks."
- Taking videos of you attempting to eat your body weight in appetizers is encouraged, and I ask that they be emailed to me directly and uploaded on YouTube immediately.
Happy snacking, appetizer lovers.
This article was originally published at http://www.thewire.com/business/2014/07/tgifridays-would-like-to-feed-you-endless-appetizers/374052/