Pret a Manger has announced it will launch a new monthly subscription offering people five drinks a day in an effort to boost sales and footfall.
The new service will enable subscribers paying £20 a month to enjoy up to five coffees, hot chocolates, teas, smoothies or frappe drinks a day, every day.
In a 30 day month that would at a maximum equate to 150 drinks for £20, or 13.3 pence a drink. With the drinks on offer normally costing in the region of £2 each, that is a discount of 93.5%.
Most subscribers of course will not take maximum advantage but a worker with three breaks a day, working five days a week could quite easily redeem 60 drinks a month, which is 33 pence per drink, a discount of 84.5%.
Coffee margins are high, and doubtless the equation must factor cross sell value while subscribers are collecting their drinks. Only last week Pret a Manger reduced their workforce by 2,900 to cut costs, and is closing circa 10% of London outlets.
The subscriber discount scheme seems incredibly generous and due to London being devoid of both tourists and workers currently is aimed at a niche target market. In such tough market conditions the move seems brave.
News from the hospitality and cratering industry is also being featured extensively in our Facebook and twitter social media accounts with the opportunity to engage with others in hospitality and share your views.
Pret a Manger subscription – 4 September 2020 – Pret a Manger subscription