Freebirds Fired Up Over New Pricing Methodology
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Well-Timed Premium LTO Combined with Guest-Centric Price Management Exceeds Expectations
Before we engaged SignalFlare.ai, we were not seeing the flow-thru or effective price impact that we’ve come to enjoy in the past 12 months of working with their team and sophisticated methodology.”
NEW YORK CITY, NEW YORK, UNITED STTES, August 5, 2024 /EINPresswire.com/ -- Texas-based Freebirds World Burrito is no stranger to Limited Time Offers. Their fifth annual Texas Style Brisket offering was hugely successful – outselling prior year’s demand by 20%. Freebirds has run the Texas Brisket for five years as a limited time offer but this year had partnered with SignalFlare.ai on a comprehensive pricing strategy. “Our first price initiative last year using the SignalFlare.ai platform captured over 90% of the expected increase, a vast improvement from the 50-60% expected. Our most recent initiative over-indexed due to a blend of strategic price actions and a well-timed premium LTO. Their partnership over the last year has created significant financial strength for our business.” boasted Alex Eagle, Freebirds CEO.— Alex Eagle, Freebirds CEO
Check average grew from $20.66 in the preceding weeks to $21.52 post-launch – achieving a total impact of 4.2%. 2.4% came from modest price changes, exceeding projection by 120%, plus an additional 1.8% from the premium LTO. The combined actions were deployed to protect overall brand health, traffic and financial targets. This achievement is a testament to Freebirds leadership in synthesizing all aspects affecting the value equation – guest experience, a unique Texas inspired product positioning, marketing and data science to optimize for revenue and profit.
Eagle added, “Before we engaged SignalFlare.ai, we were not seeing the flow-thru or the effective price impact that we’ve come to enjoy in the past 12 months of working with their team and sophisticated methodology. Their holistic approach factors in the real buying power of our guests, our guest experience metrics, and robust econometrics. SignalFlare has been a contributing factor in helping us achieve higher flow-thru on necessary price increases.”
SignalFlare is changing the pricing game with a modern guest-centric methodology and is hyper-focused on improving the first and last mile of price recommendations for their clients. CEO Mike Lukianoff proclaimed, “We've dramatically improved the first mile of data extraction, transformation and load through a direct integration with Qu (Freebirds point of sale) and our partner, Snowflake (SNOW). The next goal is to automate the last mile of executing a price change in the POS directly. We ae excited about what the Qu platform can unlock for our mutual clients.”
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Tammy K. Billings
SignalFlare.ai
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