First, a Beijing spicy fish head restaurant made a foray into high-tech and now another, Luo Luo Fish Hot Pot, is diving into investment. That’s right folks, ‘new wealth-management products’ are being promoted alongside the spicy fish soup favourite.
Last month a new menu item was added that promises to fill your wallet rather than your belly. The Beijing based chain that specialises in the traditional diet staples from southwest Guizhou province, began handing out fliers to customers to promote their new scheme. And with pretty competitive return too.
According to the fliers that were handed out by its waitresses, if you have a spare 500,000 yuan (about 80,000 USD) floating about the place, investing it into this fishy firm can offer you a 13% annual return, while other products boast a not too shabby 8%. These stats make the one-year bank deposits in China, that are capped by the government at 3.3%, look relatively shameful.
As well as the fliers, plastic ads were stuck to each table at Guijie food street in Beijing last week, promising investors safe principal and profit. Alongside this was a a plug for their soup that is so hot with customers. And no doubt, to remind potential investors of their popular product.
For those whose interests have been aroused, “We introduce some basic information to clients who are interested in the products” but for the more intimate details, customers are directed to “specialised wealth managers if they really want to buy,” said one waitress.
The bait is thrown out to audiences through its 14 restaurants which maximises reach through and also sidesteps intense competition. They’ve got this strategy down Hook. Line. and Sinker.
[Image via theobjectworks.com]
By Sophie Regan