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post #1 of 11 (permalink) Old 01-10-2007, 11:30 AM Thread Starter
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Pizza for pesos

Dallas-based food chain to accept Mexican pesos

By KAREN ROBINSON-JACOBS / The Dallas Morning News

Starting Monday, patrons of the Dallas-based Pizza Patrón chain, which caters heavily to Latinos, will be able to purchase American pizzas with Mexican pesos.

Restaurant experts and economists said they knew of no other food chain with locations so far from the Mexican border offering such a service.

"We're trying to reach out to our core customer," Antonio Swad, president of Pizza Patrón Inc., said Friday.

"We know they come back [from Mexico] and have pesos left over. We want to be a convenient place for them to spend their pesos."

While U.S. restaurant chains have stepped up their marketing to Latino consumers and incorporated Latin flavors in the menu, it's unusual to see that outreach extend to the cash register.

"I think it's a very interesting idea," said Ron Paul, president of Technomic Inc., a Chicago-based restaurant market research firm. "They are catering to that audience."

But Mr. Paul said he did not see other chains rushing to emulate the program, in part because of bookkeeping headaches.

Usefulness
Others mentioned that the growing use of credit cards and the desire to hang on to the pesos for a return trip to Mexico would dilute the usefulness of the program.

"If you're not in a border town, I don't see the functional benefit," said Juan Faura, president and chief executive of Cultura, a Dallas-based marketing and advertising firm.

He and others saw the program more as a marketing effort than a badly needed service.

"I would see it as a move by the chain to communicate unequivocally to the Hispanic market that they are for them," Mr. Faura said.

"I don't see any other reason for it."

But Andrew Gamm, Pizza Patrón's director of brand development, said the company tested the idea in a Mesquite store recently and had customers spend "a couple hundred pesos," without any advertisement of the service.

Bills only
Under the program – which is set to end in late February but may be extended – the chain's 59 stores will take peso bills only, not coins.

Using cards listing the conversion calculations, cashiers will enter the figure in U.S. dollars into the cash register and give the change in U.S. currency.

Mr. Swad said some franchisees have made arrangements with their banks to handle the currency.

All other franchisees can send the pesos to the corporate headquarters, which will go to a third party to handle the conversion.

Mr. Gamm said the company set its exchange rate at 12 pesos per dollar for the duration of the program. As of Friday's trading, 10.94 pesos were worth $1, according to Bloomberg News.

Mr. Gamm said the difference would cover the cost of getting the pesos converted to dollars.

Mr. Swad said he's prepared to take heat from American consumers who might be offended by the bypassing of greenbacks.

"We're not really interested in finding the safest spot on the board," Mr. Swad said.

About 60 percent of Pizza Patrón customers and 45 percent of the franchisees are Latino.

"We know the purity of our intention, and we're willing to take the heat when there is heat."

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post #2 of 11 (permalink) Old 01-10-2007, 11:40 AM
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Re: Pizza for pesos

so... you racist or what? why the frowny face? who cares?

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post #3 of 11 (permalink) Old 01-10-2007, 11:43 AM Thread Starter
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Re: Pizza for pesos

[quote author=biped link=topic=66587.msg1142453#msg1142453 date=1168443615]
so... you racist or what? why the frowny face? who cares?
[/quote]
what does race have to do with this knucklehead?
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post #4 of 11 (permalink) Old 01-10-2007, 12:01 PM
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Re: Pizza for pesos

Lots of people here near the border, go back and forth between the two countries. Some carry both currencies and this could be handy.
However, I don't like the idea of another foreign currency being used on this side of the border. If it stops at this, I am OK with it.
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post #5 of 11 (permalink) Old 01-10-2007, 12:19 PM
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Re: Pizza for pesos

[quote author=TazSpeed link=topic=66587.msg1142476#msg1142476 date=1168444871]
Lots of people here near the border, go back and forth between the two countries. Some carry both currencies and this could be handy.
However, I don't like the idea of another foreign currency being used on this side of the border. If it stops at this, I am OK with it.
[/quote]
Living at the border also and I agree!
If this is the beginning of something else, I don't like it at all!
We don't want these two economies sharing currencies.
It might be good for Mexico, but not for us.
And there is nothing racist about this

MAZDAS and HARLEYS RULE
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post #6 of 11 (permalink) Old 01-10-2007, 12:48 PM
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Re: Pizza for pesos

[quote author=Vegasdriver link=topic=66587.msg1142459#msg1142459 date=1168443812]
[quote author=biped link=topic=66587.msg1142453#msg1142453 date=1168443615]
so... you racist or what? why the frowny face? who cares?
[/quote]
what does race have to do with this knucklehead?
[/quote]
Yes, I hate it when people resort to the race thing!

Anyway, we don't want the USA to be like Mexico in any form or way. That is for sure. Somehow, some Mexicans seem to want that. Do they actually think that they are better off in their homeland than here?
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post #7 of 11 (permalink) Old 01-10-2007, 01:07 PM
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Re: Pizza for pesos

[quote author=wildwestman link=topic=66587.msg1142507#msg1142507 date=1168445946]
Living at the border also and I agree!
If this is the beginning of something else, I don't like it at all!
We don't want these two economies sharing currencies.
It might be good for Mexico, but not for us.
And there is nothing racist about this
[/quote]

The complete irrelevance of this story and the way it was picked up by national news is really indicative of our misplaced attention.

Who cares if some pizza chain accepts a few pesos as part of a marketing strategy when Asian nations control $1.2 trillion dollars of US dollar reserves? The collapse of the dollar if they dump their reserves sure sounds like currency sharing to me.
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post #8 of 11 (permalink) Old 01-10-2007, 02:11 PM
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Re: Pizza for pesos

^
good point, it all ties in with the erosion of the dollar
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post #9 of 11 (permalink) Old 01-10-2007, 03:09 PM
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Re: Pizza for pesos

to be fair, the op expanded his original post after i made my original comment.

and boo-hoo to your dollar, welcome to the outside world.

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post #10 of 11 (permalink) Old 01-10-2007, 04:00 PM
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Re: Pizza for pesos

The heck with the dollar, if anyone wants to accept a currency so be it. The only time I think it is actually convenient is at boarder towns and international airports, this doesn't just apply to the US. At international airports you can find a place to convert your money, but if you are just passing through sometimes it is easier to pay with your home currency. When I was in Milan going to Genoa I bought 2 muffins and a water with US dollars at a coffee shop in the airport. Most of the stores accepted pounds, dollars, and euros...fairly smart considering the resonably high number of people coming through an international airport using a foreign currency compared to say some shopping mall in Milan, or those who are making just a lay over and don't want to have to covert a bunch of currency just to get a coffee.
-Matt
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