The $20 Endless Shrimp Deal That Ate Red Lobster’s Profits
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The $20 Endless Shrimp Deal That Ate Red Lobster’s Profits
In 2023, Red Lobster bet everything on a single promotion, and it nearly destroyed the company. For just $20, customers could eat unlimited shrimp. What sounded like a crowd-pleaser turned into one of the most expensive marketing disasters in restaurant history. Red Lobster lost $11 million in one quarter. By May 2024, the 700-location chain ...
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