Struggling restaurant chains try cheap eats to lure diners
Mar 25, 2009 at 12:00 AM
According to a report in USA Today, the nation's struggling full-service restaurant chains seem to have found only one sure-fire way to lure folks in the door: cheap eats.Chili's is about to roll out meals for less than $7. Texas Roadhouse is offering $7.99 meals. T.G.I. Friday's has $9.99 entrees. Outback has rolled out some entrees at $9.95. Even upscale Morton's Steakhouse has a value deal.Almost every chain in the $183 billion full-service dining industry is waving a meal deal that beckons customers with low-ball prices — with the hope folks spend more once they come in. Times are so tough that some deals fall within a few dollars of fast food."The fact that you can eat a full-service meal for under $10 is incredible," says Christopher Muller, hospitality professor at University of Central Florida. "You couldn't even eat this cheaply in 1992."CLICK HERE for the full report.