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Viewing report
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Chili's Concept Benchmark Analysis
Restaurant Research, LLC, Aug 2009, Pages: 11
Analysis of the Chili's restaurant concept provides readers with unique data and insight into this leading brand.
Chili’s is struggling to find its way as the second largest casual chain in a tough economic and competitive environment without a strong value equation that works from a profitability perspective. Recently, the chain found out the hard way that value does not equal sharply reduced portion sizes at lower price points. Currently, the chain is discovering that discounting core menu items does not work very well from a profit perspective.
In our opinion, the deal with value is that it has as much to do with quality/variety/innovation as price. This presents a problem for a chain with a vast menu in need of rationalization and just middling consumer satisfaction scores. Chili’s challenge (not dissimilar to its peers) is to figure out how to carve out a niche in sit down. So the broader question for the chain is how to survive nearly -10% sales declines (like during the most recent quarter ended June 09) while ramping-up a new, differentiated menu/experience that can drive traffic at QSR+ prices. In our mind, this is not a quick fix although a quick fix is necessary.
In any case, we wait to see what the company cooks-up with an expected announcement forthcoming later this year. While it seems improbable to us that the golden key will be presented at that time, we hope for a road map to show us how a major casual brand can, over time, reclaim major lost ground.
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