For UK consumers and businesses, 2009 will be remembered as a challenging year characterised by weak economic expectations, inflationary pressures and low consumer morale . Whilst not the reality for all, there was certainly a perception of having less to spend.

Chic high-street restaurant chains such as Pizza Express and Zizzi faced the prospect of empty tables in their premium urban locations as their core target customer segments (young professionals with disposable cash) reduced their discretionary spend.

However, by targeting a core customer need in this period - to provide "stylish" restaurant experience (a traditional "luxury" good) for a price befitting a more frugal era, with no deterioration in quality of food/service - these restaurants have been able to build a better picture of their customer base, strengthen (short term) loyalty and fill otherwise empty tables. This was achieved by savvy use of the traditionally unfashionable marketing tool - the coupon.

Viral coupon campaigns that rewarded customers for sending vouchers to their friends created a vibe around the brands and enticed customers in with 2-for-1 offers often with drinks and appetisers included. For the customer going out for a meal at these restaurants could be justified financially, and provided a sense of reward for paying half the price of an otherwise expensive meal - almost a gift back from the GFC.
In 9 months, Pizza Express (the first movers in this trend) grew their customer base from just a small number to over 3 million. They had successfully tapped into the "savings frenzy", consolidated share in the ABC1 and C2D social groups, and maintained sales in times when people were tightening their belts.

However, the voucher revival may have long term impact... it significantly changed consumer's buying behaviour. Before going out, people actively looked for vouchers - no voucher, no purchase. Internet searches for restaurant voucher codes increased by 226% in 2009.

There is a strong risk therefore that consumers have only bought into those brands with the expectation of gaining a cheaper deal. 2010 will tell if these brands can return the conversation with the customer back to style and experience and therefore, crucially, a higher price point. If not, the effect may be one of lower customer loyalty in the long run.

Tom Lister