Dynamic pricing could change the fast food industry

[The Late Night Gourmet]

This article shows that Wendy's is going to begin adjusting product pricing according to the time of day:

https://www.msn.com/en-us/money/com...ng-change-could-upend-the-fast-food-industry/

There was some fear that this meant they would increase the price during busy periods. Instead, the plan is to offer reduced pricing during slow periods. This appears to include reduced pricing during bad weather.

This is similar to what some restaurants do already (reduced drink prices during "happy hour"; "early bird" specials where items cost less if you eat during certain hours). But, it seems that the times for the reduced pricing won't be the same every day. For example, Texas Road house offers reduced pricing every day until 3 p.m. Wendy's new pricing could be different from region to region, and from day to day.

It doesn't sound like Wendy's is breaking new ground, but they actually are for fast food restaurants. I can see people deciding to go to Wendy's to get their food earlier in the day, rather than getting it from MacDonalds at dinnertime.

 

[karadekoolaid]

How popular are the square burgers from Wendy's? Might the new pricing dynamic be an attempt to increase sales because they're losing customers?
to be honest, it wouldn't affect me because I only eat fast food when I'm outside of Venezuela. If I want a quick burger it doesn't matter what time it is. For a lot of people, however, this might just be a draw.

 

[CookieMonster]

"...this might just be a draw."

how could that be? if one does not know when which who what where when and why prices are in effect?

per the blurb, every store gets to set different prices based on region, day, hour of the day . . . .

 

[msmofet]

NOT WORTH IT!! I'll go somewhere else. If I want to pay more for something I'll go to a good diner.

 

[CookieMonster]

NOT WORTH IT!! I'll go somewhere else. If I want to pay more for something I'll go to a good diner.

in recent memory . . . . old, faulty, geezer type . . . . the only time(s) we've done "fast food" is on a 600 mile/day interstate trip - where there is , , , frankly , , , no other option.

we do however have a fondness for Jersey Mike's "Original Italian" hoagie. definitely old school. is that "fast food?"
just tried their faux Philly cheese steak - that curiosity definitely killed the cat - not no more . . .

 

[msmofet]

in recent memory . . . . old, faulty, geezer type . . . . the only time(s) we've done "fast food" is on a 600 mile/day interstate trip - where there is , , , frankly , , , no other option.

we do however have a fondness for Jersey Mike's "Original Italian" hoagie. definitely old school. is that "fast food?"
just tried their faux Philly cheese steak - that curiosity definitely killed the cat - not no more . . .

Original Italian Mike's way!!! Yum

 

[blades]

This article shows that Wendy's is going to begin adjusting product pricing according to the time of day:

https://www.msn.com/en-us/money/com...ng-change-could-upend-the-fast-food-industry/

There was some fear that this meant they would increase the price during busy periods. Instead, the plan is to offer reduced pricing during slow periods. This appears to include reduced pricing during bad weather.

This is similar to what some restaurants do already (reduced drink prices during "happy hour"; "early bird" specials where items cost less if you eat during certain hours). But, it seems that the times for the reduced pricing won't be the same every day. For example, Texas Road house offers reduced pricing every day until 3 p.m. Wendy's new pricing could be different from region to region, and from day to day.

It doesn't sound like Wendy's is breaking new ground, but they actually are for fast food restaurants. I can see people deciding to go to Wendy's to get their food earlier in the day, rather than getting it from MacDonalds at dinnertime.

Probably a good plan. The supermarket we frequent has senior discount day every wednesday. They give us old timers 10% off what we buy on Wednesdays. The manager told me Wednesday was the quietest business day of the week for them before senior day. Now it is second only to saturday.

 

[vernplum]

"...this might just be a draw."

how could that be? if one does not know when which who what where when and why prices are in effect?

per the blurb, every store gets to set different prices based on region, day, hour of the day . . . .

There'll probably be an app (if there isn't already) which will have the feature of showing the pricing.

 

[vernplum]

This article shows that Wendy's is going to begin adjusting product pricing according to the time of day:

https://www.msn.com/en-us/money/com...ng-change-could-upend-the-fast-food-industry/

There was some fear that this meant they would increase the price during busy periods. Instead, the plan is to offer reduced pricing during slow periods. This appears to include reduced pricing during bad weather.

This is similar to what some restaurants do already (reduced drink prices during "happy hour"; "early bird" specials where items cost less if you eat during certain hours). But, it seems that the times for the reduced pricing won't be the same every day. For example, Texas Road house offers reduced pricing every day until 3 p.m. Wendy's new pricing could be different from region to region, and from day to day.

It doesn't sound like Wendy's is breaking new ground, but they actually are for fast food restaurants. I can see people deciding to go to Wendy's to get their food earlier in the day, rather than getting it from MacDonalds at dinnertime.

I for one welcome this idea. I think a lot of the initial outrage to this was 'AI is here to take all our jobs and now make burgers more expensive the greedy capitalists!' when in fact that the possibility that a burger could actually be cheaper than normal was largely ignored. I'm a guy with quite a bit of free time, so the idea of getting a cheaper burger when it isn't the lunch or dinner rush appeals to me, and obviously that's good for their business too.

I love Wendy's - shame they exited Singapore (twice!) and eat it when I'm traveling where it is available.

 

[detroitdad]

How popular are the square burgers from Wendy's? Might the new pricing dynamic be an attempt to increase sales because they're losing customers?
to be honest, it wouldn't affect me because I only eat fast food when I'm outside of Venezuela. If I want a quick burger it doesn't matter what time it is. For a lot of people, however, this might just be a draw.

Same with us. We rarely eat fast food. For one, it simply doesn't agree with me. Two, it is almost as expensive as going to a sit down bar and grill (our preference). As with everything, restaurant prices are on the rise. We have reduced our going out on the town date nights.

 

[LissaC]

Dynamic pricing...so many things the fast food industry could learn from aviation and they decide to learn this lol

 

[CookieMonster]

... yum . . .

I grew up in the {~20 mile} Phila area
ate mucho lotta "subs" and "cheese steaks" - by un-counted deli's, etc.

indeed, Jersey Mike has captured my/our memories of what a really good sub tastes like.
((DW called it a "Zep" - others label it a xxx, yyyy, zzz, .. . .

 

[rascal]

We have a wendy's here. I shouted 3 people and is 1 night about 10 years ago.
It was horrible. $100 for nothing. Havnt been back. Place is always empty.
Talking of pricing though our local Indian restaurant prices have shot through the roof. Butter chicken was 22 to 23 bucks. Went the other night with dinner club. Mains $40. Wow we were all shocked. Was nice though.

Russ

 

[blades]

We have a wendy's here. I shouted 3 people and is 1 night about 10 years ago.
It was horrible. $100 for nothing. Havnt been back. Place is always empty.
Talking of pricing though our local Indian restaurant prices have shot through the roof. Butter chicken was 22 to 23 bucks. Went the other night with dinner club. Mains $40. Wow we were all shocked. Was nice though.

Russ

Nice to be able to outcook these places isn't it?