Prime Highlights:
- Panera launches its first-ever value menu, “Mix & Match,” letting diners pick two items for $4.99 each to make dining more affordable.
- The move is part of CEO Paul Carbone’s strategy to attract price-conscious customers and increase restaurant visits.
Key Facts:
- Panera’s sales fell 5% in 2024 to $6.1 billion due to declining customer traffic.
- Industry data shows nearly 75% of diners consider discounts, daily specials, or value offers when choosing where to eat or order takeout.
Background:
Panera Bread has introduced its first dedicated value menu, rolling out a new “Mix & Match” offer aimed at attracting price-conscious diners as the company works to revive sales and store traffic.
Starting Wednesday, customers can choose from 10 select menu items priced at $4.99 each, with a minimum purchase of two items. The options include half portions of sandwiches and salads, as well as cups of soup. Every order also comes with a choice of a baguette, chips or an apple. Seasonal items will rotate into the lineup over time.
The launch comes as Panera attempts a turnaround under Chief Executive Officer Paul Carbone, who has placed affordability at the center of the brand’s strategy. The chain, once the leading fast-casual restaurant in the United States, now ranks third behind Chipotle Mexican Grill and Panda Express.
Panera’s sales fell 5% in 2024 to $6.1 billion, mainly because fewer people visited its restaurants. The company believes better pricing and value deals can bring customers back.
Across the industry, people are spending less on eating out. Many are choosing cheaper options or dining out less often. Big chains like McDonald’s and Taco Bell are also offering more value deals.
Data from the National Restaurant Association shows that nearly three out of four diners look for discounts or special offers when deciding where to eat. Carbone said customers responded positively to the Mix & Match tests and expects the offer to generate additional visits rather than replace existing purchases.
Panera will continue its long-running “You Pick Two” promotion alongside the new menu. While both offers allow guests to combine smaller portions of salads, sandwiches, soups, or mac and cheese, executives say customers see “You Pick Two” more as a way to enjoy variety than as a discount-driven deal.
