Panera introduces first-ever value menu

Panera’s latest move is geared towards customers who love its ‘You Pick 2’ deal…but hate the ‘You Pay $22’ part.

The fast-casual chain announced its first-ever value menu yesterday, where customers can choose at least two options from a list of soups, salads, and sandwiches.

What’s on the docket: The new menu features 10 Panera staples, including the Creamy Tomato soup, Toasted Italiano sandwich, Homestyle Chicken Noodle Soup, and Fuji Apple Chicken salad.

• Customers can bundle between two and 10 picks to receive the $4.99/item discount.
• The Mix & Match menu also comes with a free side of a baguette, chips, or an apple with every order.

Driving the move: Panera was once considered the top fast-casual brand in the US, but now sits at #3 behind Chipotle and Panda Express. And with ~3 in 4 diners saying discounts and deals influence where they eat, the chain is betting on value to bring customers back.

Zoom out: Panera joins a long list of on-the-go restaurant chains seeking to emphasize discounts. McDonald’s, Wendy’s, and Taco Bell have all rolled out new or expanded value deals within the past year in an effort to win back budget-conscious diners.