Krispy Kreme, renowned for its delectable donuts, is acknowledging the financial strain felt by consumers due to escalating prices with a unique promotion.
Commencing this Wednesday and continuing for the subsequent three Wednesdays, patrons have the opportunity to purchase a dozen glazed donuts at the equivalent price of the national average gallon of gas from the preceding Monday, which currently stands at $4.11. This offering contrasts sharply with the standard price, which can soar to as high as $20 for a dozen donuts, contingent upon location.
The company has imposed a restriction of two dozen donuts per customer, citing limited availability. Once supplies are depleted, the promotion concludes.
Tim Calkins, a clinical marketing professor at Northwestern University, remarks on the significance of this promotion, noting the departure from conventional marketing strategies. Utilizing inflation as a promotional tool underscores its prevalence in the economy.
Moreover, this initiative serves as a dual-edged strategy for Krispy Kreme, as it endeavors to mitigate financial challenges posed by rising commodity prices and wages.
Darren Tristano, CEO of FoodserviceResults consultancy, commends Krispy Kreme’s tactical move, foreseeing increased foot traffic in stores over the next four weeks. He anticipates that some customers enticed by the discounted glazed donuts may opt to purchase other varieties at full price.
The timing of the promotion is opportune on multiple fronts. As many employers are encouraging employees to return to the workplace, the prospect of acquiring several dozen donuts for the price of a few may appeal to managers seeking to facilitate this transition.
Tristano suggests that the four-week duration of the promotion strategically aligns with human behavior, as it allows ample time for consumers to develop a habitual inclination towards Krispy Kreme’s offerings. Establishing this routine over the promotional period could potentially endure, notwithstanding fluctuations in donut prices.