TGI Fridays is doing a big brand refresh in the hopes of slowing its revenue downturn. Recently sold to a new investment group, TGI Fridays launched as a single restaurant on the upper east side of Manhattan decades ago by Ben Benson and Alan Stillman. Some credit these two gents with inventing the “single’s bar.”
As part of the brand refresh there is lots of talk about talking tchotchkes off the walls, replacing frozen with fresh ingredients, updating the menu and removing potato skins from consumer muscle memory. All of which are good ideas, especially the food upgrade. But there is something about the original concept that might endure if the brand planners dig deeply enough. Places where the vibe is conducive to meeting people is not a bad business model. Look at online dating services. Look at the Axe strategy. Read a Millennials magazine.
Were I the planner on the business I’d try to understand what made the original Friday’s Fridays. What made it different from Tuesdays, Wednesdays and Thursday (other Stillman and Benson brands). Only Friday’s made it.
Readers know I’m not big on rearview mirror planning. But I am about providing consumers with experiences that meet needs and desires. So a little look back might help with Fridays look forward. Peace.
