Meal deals remain a consumer favorite in APAC

As inflation continues to squeeze household budgets across the Asia-Pacific (APAC) region, consumers are increasingly turning to meal deals as a cost-effective and convenient way to enjoy their midday meals. This trend is particularly evident in the quick-service restaurant (QSR) sector, where meal deals have become a staple on menus.

A recent report by GlobalData revealed that meal deals, typically comprising a main course, a side dish, and a beverage at a discounted price, have proven remarkably resilient despite economic headwinds. This is attributed to several factors, including:

Affordability: In an era of rising prices, meal deals offer a welcome reprieve, allowing consumers to enjoy a complete meal without breaking the bank.

Convenience: With busy schedules and hybrid work arrangements becoming increasingly common, meal deals provide a convenient and time-saving option for busy individuals.

Variety: QSRs are constantly innovating their meal deal offerings, providing a wide range of choices to cater to diverse tastes and preferences.

“Meal deals remain popular among workers and students, indicating that they fulfill a need for convenience and value,” said Bokkala Parthasaradhi Reddy, Lead Consumer Analyst at GlobalData.

However, affordability is not the sole driver. Consumers are also increasingly discerning about the quality and taste of the food included in meal deals. This has led to a shift among QSRs, with many now focusing on offering higher-quality ingredients and more premium options within their meal deals. “This demographic’s inclination towards meal deals emphasises the necessity for foodservice brands to innovate and adapt their offerings to meet these demands,” said Deepak Nautiyal, Consumer and Retail Commercial Director, APAC and ME, GlobalData.

This focus on consumer preferences is particularly crucial for attracting younger consumers, especially Gen Z, who are highly price-conscious and demand value for their money.

In conclusion, meal deals have emerged as a winning strategy for QSRs in the APAC region, offering a compelling solution for consumers navigating inflationary pressures while seeking convenient and affordable dining options. As consumer preferences evolve, QSRs will need to continue innovating and adapting their meal deal offerings to remain competitive and meet the evolving demands of this discerning market.