Brinker International significantly increased its marketing budget from $32 million to $137 million, contributing to a 23.7% increase in same-store sales at Chili's. The company surpassed earnings and revenue expectations, raising its full-year forecast. Social media influencers were highlighted as a vital factor in Chili's marketing success, allowing them creative freedom in endorsements. Standardizing the $10.99 value meal across U.S. locations has also been beneficial. Brinker is leveraging growth to combat rising costs of labor and goods amidst inflationary pressures in the restaurant industry.
"We refortified our marketing budgets. Three years ago, we spent about $32 million in marketing; this past fiscal we just finished, we spent $137 million."
"Chili's same-store sales at the chain increased by 23.7%. With the inflationary environment hitting the restaurant industry, it's difficult to maintain margins."
#brinker-international #marketing-strategies #chilis #social-media-influencers #financial-performance
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