Cracker Barrel is having a tough year after losing consumers in two quarters. Now, the country-themed restaurant is starting a broad campaign to bring back customers.
Cracker Barrel reported a 3.2% reduction in third-quarter visitor visitation on April 28 in June.
The chain's president and CEO blamed the "meaningful" traffic drop on visitors cutting down on dining out owing to inflation and increasing restaurant pricing.
CEO stated in an earnings conference yesterday that the chain again saw "lower traffic levels" in the fourth quarter and expects the trend to continue.
CFO said Cracker Barrel thinks traffic concerns reflect today's "challenged consumer environment" that has made dining out less cheap for many, as in the third quarter.
The company's management also think their restaurants' visitor experiences might be better and that they didn't promote enough.
CEO stated "the volume and substance of our marketing messages in the fourth quarter were not as effective as we'd wanted, particularly in a highly competitive and promotional marketplace."
CEO stated they're concentrating on hiring, retaining, and boosting hospitality by increasing front-of-house worker hours.
By the end of the month, Cracker Barrel will launch a new loyalty program, one of its most crucial traffic-boosting measures.
CEO recognized that it may take time to introduce clients to the initiative and convince them to engage, but the business expects it will generate more traffic and deliver valuable customer data.
"We are aggressively recovering traffic above industry levels and adjusting our business model to ensure financial strength," CEO stated.