Meal Deals Offer QSRs a Recipe for Success in Asia

Meal deals have become a key offering in APAC QSRs, meeting demand for affordability, convenience and variety, especially among price-conscious consumers. Operators innovate with premium options and regional collaborations to attract diverse customers.

FREMONT, CA: The meal deal business has proven resilient amid inflationary economic conditions. Following the epidemic, retailers and food service operators have found forecasting demand for weekday meals challenging due to mixed working habits.

Nonetheless, professionals and students continue to choose meal bargains, suggesting that they meet a need for affordability and convenience. As the demand for cost-effective solutions continues to rise, particularly among these price-conscious consumers, meal deals have emerged as one of the most popular menu options in quick-service restaurants (QSR) across the APAC region, offering a combination of main courses, snacks and drinks at reduced prices.

 The attractiveness of meal packages is just as important as their pricing. Particularly in challenging economic times when inflation is on the rise, this price strategy attracts customers looking for inexpensive lunch options. Consumers are also increasingly searching for solutions that deliver flavor, quality and diversity.

Some operators have responded to this change by providing premium meal kits or distinctive eating experiences that improve the meal deal offer. A varied customer base, including individuals who might not be frequent diners as much but seek out rich dining experiences when they do, might be drawn in by offering a blend of value, convenience and quality.

Young consumers, especially Gen Z, are more inclined to look for reasonably priced substitutes when dining out. This demographic's preference for meal deals highlights the need for food service brands to innovate and modify their products to satisfy these needs. Promotions and meal packages that not only provide financial savings but also fit with their individual tastes and lifestyle choices frequently impact this market sector.

Of these customers, 27 percent claimed that a product or service's compatibility with their time and money constraints always affects their choice, while 33 percent said it frequently does.

The popularity of meal deals offers opportunities for creativity and cooperation for companies in the food service sector. While technology companies can provide solutions to expedite the development and promotion of these services, suppliers can create and supply premium components specifically suited for meal packages. Additionally, by combining regional cuisines and boosting local economies, collaborations between QSRs and regional producers can increase the allure of meal deals.

Meal deals have become a crucial product in the QSR industry in Asia. They deliver the ideal balance of variety, affordability and convenience to appeal to budget-conscious customers.