Red Lobster's new menu showcases nine fresh items aimed at appealing to younger customers, with a focus on energy and fun, as CEO Damola Adamolekun explained, 'We want to make the restaurants more fun. We want to make this more energetic.' His vision highlights a strategic pivot to regain market share after a significant decline in visits and to modernize the dining experience.
The restaurant chain is responding to tough market conditions following a bankruptcy declaration, with over 44% drop in visits year-over-year, due to rising prices and shifting consumer habits. Adamolekun noted, 'I know how to do math', admitting the previous $19.99 all-you-can-eat shrimp deal was a financial strain, prompting the need for strategic realignment in operations.
Collection
[
|
...
]