![]() ![]() MyPanera+ Coffee only allowed you to claim a free hot tea, or hot or cold coffee every two hours. With this change, Panera expanded the range of drinks included in the subscription. ![]() The monthly fee also increased from $8.99 to $11.99 per month plus tax. This year, the Unlimited Sip Club subscription replaced the MyPanera+ Coffee subscription. Free Panera Bread “Unlimited Sip Club” Subscription The primary limitation is that you must not be a current Unlimited Sip Club subscriber. If you live near one of Panera Bread's 2,000+ locations, this is a nice offer to take advantage of. You can claim a 4-month free Panera Unlimited Sip Club subscription when enrolling with your Amex card. Amex cardholders can once again get a free subscription to get coffee and tea at Panera Bread. This promotion has ended please review current/active promotions.Īmex has brought back a great promotion from last year just in time for the holidays. The opinions expressed here are our own and have not been reviewed, provided, or approved by any bank advertiser. Terms Apply to the offers listed on this page. Changes in subscription service, he indicated, could include certain “experiences, or be based on specific times of the day,” he said.AwardWallet receives compensation from advertising partners for links on the blog. He doesn’t envision a food subscription service in Panera’s future. ![]() And given the high inflationary macro-environment, it is extremely well-timed.” “I think the subscription program is a disruptive way to unlock value for our customers. Hence, people can come to Panera’s for healthy food and save money on their beverages, Chaudhary suggested. What has Panera’s Bread learned from its coffee subscription service that will be incorporated into its new beverage service? Chaudhary replied, “We were able to make beverages completely accessible for a flat price.” It concluded that “If implemented well, paid loyalty programs can be highly profitable.” It also noted that 75% of the increases stemmed from new products that customers had not previously bought. In fact, an ApHarvard Business Review study on loyalty programs written by Raghuran Ivengar, Young-Hoon Park and Qu Yu, revealed that customers of these subscriptions “spent more than twice as much per month after subscribing to the retailer’s loyalty program.” But it also concluded that “some customers contributed substantially to the increase in revenues, while others did not.” Guests must tap their loyalty cards to activate it and use it, enabling Panera’s to track their purchases. Members are eligible for discounted deals such as free bagels for a month. Its loyalty program has been one of the most successful in the fast-casual restaurant industry and currently numbers 47.7 million member as of first quarter 2022. To become a subscriber, guests must become a MyPanera loyalty member, at no charge. Now we have to make sure the economics of the program works with a broader range of the costs of the beverages.” Why raise the price $2 a month? Chaudhary said, “We’ve realigned the price because the repertoire is much broader. “It has the same logic of why should coffee cost so much to why should beverages cost so much?” Chaudhary cited. The Unlimited Sip Club includes coffee but expands the selections to 26 various beverage products. Their membership price will increase in 2023 to $10.99 a month. It covered any coffee that was self-served and was restricted to new cups of coffee every two hours.Įxisting coffee subscribers will be grandfathered into the new Unlimited Sip Club for the previous price of $8.99 a month through the end of the year. Subscribers were only eligible for ordering coffee it doesn’t include purchases of cappuccino, café au lait or espresso. The coffee was driving its breakfast business. Moreover, Panera reports that 43% of its coffee subscribers were new customers to the brand. Hence, its coffee club subscribers frequented its eateries at eight times higher visits than in the past and 30% of them added a food item to their check. ![]() Recurring revenue has been boosting sales at Panera since many subscribers end up frequenting its restaurants more often and buying more items to accompany the beverage. He pointed to a study he read that said most coffee-drinking Americans spend $1,500 a year on premium coffee annually, and with Panera’s subscription that cost has dwindled to about $130 yearly at the new price. Panera’s has never been known for coffee,” he acknowledged. The reason is the following: coffee for us was an underleveraged product. Asked if Chaudhary was concerned that customers would take advantage of the service, come in for free coffee, not spend money, and Panera’s would lose out, he swats that notion away. ![]()
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