""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 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.
#brinker-international #marketing-strategies #chilis #social-media-influencers #financial-performance
Read at www.cnbc.com
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