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Panera Concept Benchmark Analysis
Restaurant Research, LLC, Dec 2010, Pages: 11
Panera, the largest fast casual chain, continues to impress with strong sales generated by its contrarian strategy of moving upscale while the chain restaurant industry has become generally more oriented towards the marginal price sensitive shopper. This brand gets away with higher prices for higher quality because of the stability of its relatively affluent customer base which is motivated by Panera’s healthful, fresh and unique menu options complimented by a nice environment featuring comfy booths, fireplaces and free Wi-Fi.
In any case, it is likely that many consumers still believe that Panera provides a good value relative to the casual chains if they are willing to bus their own tables. We like the fact that Panera takes care of its stake holders - treating staff well (which is good for customers) while providing diners with a chance to eat out in a quick dining format without having to worry about the effects of digesting low quality ingredients. Furthermore, we see Panera with the first real customer loyalty program (at least in QSR) which allows the brand to better understand its core customers such that it is able to reward them for their patronage in a customized way that wows these heavy users. In conclusion, we see good evidence that Panera understands the basic business tenet that treating people well has it rewards.
Analysis of the Panera restaurant concept provides readers with unique data and insight into this leading brand.
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