Sizzler alters strategy to cater to customers' hunger for premium experience

Kreetakorn Siriatha, chief of financial and strategy officer, The Minor Food Group Pcl, Sizzler's parent company, told a press conference on Tuesday that specialty is a food trend for 2023.

There is a demand for premium foods that make consumers feel special, he explained. For example, some people now prefer to drink specialty coffee rather than plain coffee.

The new strategic plan is being implemented as the dine-in restaurant industry continues to recover from the post-Covid era, where competition is fierce. Many players are working hard to win over consumers' hearts in order to win over their loyalty, while newcomers are entering the market with new and amazing concepts.

"As a result, the industry has become extremely diverse. Though it is beneficial for customers to have more options, we must transform ourselves as quickly as their demand changes in order to stay on top of our customers' minds," Kreetakorn elaborated.

He pointed out that Covid has altered consumer behaviour. Aside from being concerned about healthy food and its safety, they want something premium and unique that will add value to their experience.

That is why, in addition to introducing new recipes with imported ingredients for a limited time in each season, Sizzler plans to open a dozen new branches in Bangkok's suburbs and large provinces while renovating stores with more space and green colour tone under the Healthy Food Happy Mood concept.

The concept focuses on medium-sized stores including innovation and creativity in store layout, new recipes, and a premium salad bar to attract more customers with high purchasing power in each location, he said.

Meanwhile, the loyalty programme e-member system at Sizzler has been upgraded, further enhancing member benefits. With these unique offers, which go beyond discounts, the company hopes to more than double its current membership base of 200,000.

Kreetakorn stated that competition in the restaurant industry is no longer primarily about discounts and promotions. It is how to always adjust its business to meet customers on time or ahead of schedule.

In response to the growing market, he said that Sizzler will have 61 stores nationwide by the end of 2022. The majority of Sizzler's business is still dine-in, but the company's delivery and takeaway services have grown significantly.

Consumer behaviour and the stimulation of consumer purchasing power through the introduction of various promotions are the growth factors.

The "Sizzler to Go" model, which focuses on serving food and drink recipes that suit consumers' fast-paced lifestyle and require convenience in settings like train stations and hospitals, supports the growth. There are currently four branches, which may also help to increase the percentage of Sizzler's overall sales.