IHOP has timed playing the value card perfectly with parents in the US as the economy has moved back to the forefront. Their August free kids’ meals promotion seems to have broken them out of the dining pack in value perception among parents, according to YouGov BrandIndex data.
All this month, IHOP has been offering free meals to children under 12 between 4 pm and 10 pm, as long as they are accompanied by an adult who orders an entrée.
That bargain announcement corresponds with IHOP’s value perception among parents soaring past Denny’s and other competitors such as Friendly’s and Waffle House.
IHOP’s Value score shot from 25 on August 1 to a peak of 50 on August 9. Their current score is 39.1, well above where they were pre-promotion. The Fast Casual Dining sector gained 3 points from a Value score of 7.7 during the promotion’s first five days, but has fallen back to 7.5 by August 15. Denny’s Value score took a hit, sliding from 21.9 to 13.5 during the first five days, but has bounced back to 20.4.
IHOP and its rivals were measured with YouGov BrandIndex’s Value score, which asks respondents: "Which of the following brands do you think represents Good/Poor Value for money? By that, we don't mean "cheap" or “expensive,” but that the brands offer a customer a lot in return for the price paid.”