Burger chain Wendy's looking to test surge pricing at restaurants as early as next year
Burger chain Wendy's looking to test surge pricing at restaurants as early as next year
Wendy’s CEO Kirk Tanner said that the it will start testing dynamic pricing, also known as surge pricing, as early as next year.
The economy doesn't care what people aka consumers want anymore. At shareholder insistence, they sabotage the future for a short term stock boost, knowing infinite growth on a finite world is over. This is terminal stage capitalism, and it's not just gonna be Wendy's, or in the food sector. The snake is eating its own tail as the scam runs out of room.
Capital markets were sold as seed funding to grow businesses, now they dismantle business ability to provide the product/service they existed for in the first place at any remotely decent quality. Economies are supposed to be lowly tools, existing solely to benefit and serve society, a method to more efficiently distribute goods/services within said society. The tail is wagging the dog.
The customer is the shareholder. The consumer is a means to an end. Same as it ever was.
The consumer/employee is livestock to the owner class, to be exploited at both ends, and discarded when it is exploited to the point it can no longer produce.
This shit can fuck all the way off
capitalism is nearing perfection their workers must be excited about all that surge pay
mmm yeah... that's it.
Also, I'm sure they will not use the conversion rate at higher prices to test out a higher base price.
I mean, if they want to but I'm getting fast food less and less. My wife and I got two numbered breakfast meals from McDonalds and it ended up being $27~. Yeaah I'll just make breakfast at home.
Breakfast from a local diner costs less around here.
Jokes on them, every single fast food place near me has already priced themselves out of contention as far as I am concerned.
You're a fucking convenience freckle-bitch, not an $11 burger.
1999, "Did you just order a $5 shake?"
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I'm gonna surge the fuck outta here.
Bye bye Wendy's. Dave is rolling in his grave right now.
the good Mexican place in town feeds us better food for less than we would pay at 2/3rds of the fast food places in town. The exceptions being Cookout and Taco Bell. Either way, my family has been moving further and further from fast food going from once a week to maybe once a month if we are driving somewhere and don’t have time for something else.
This will really hamper my 0 visits to Wendy’s without coupons.
I don’t know whether to quote from Snow Crash or Libertarian Police Department.
Have read Snow Crash more than once, but hadn’t heard of that New Yorker article. A+++. Loved that he had to put a quarter in everything.
Nooo not the le epic company with the funny tweets
Wendy's isn't a parody account?!
Kind of like how dealers give your first few hits for free,fast food companies spent the past two decades getting people addicted to cheap fried foods. Now that the overwhelming majority of people are addicted, they can charge whatever they want.
Isn't it almost $15 for a meal now anyway? Not worth it for fast food.
$5 for a biggie bag.
4 for $4 (RIP) was my go-to when I was poor. It's not great or healthy but it was by far the cheapest option at a job where bringing my own lunch every day wasn't feasible
Psst. Hey kid, want to buy a Baconator?
This is the best summary I could come up with:
Wendy’s is looking to test having the prices of its menu items fluctuate throughout the day based on demand, implementing a strategy that has already taken hold with ride-sharing companies and ticket sellers.
During a conference call earlier this month, Wendy’s CEO Kirk Tanner said that the Dublin, Ohio-based burger chain will start testing dynamic pricing, also known as surge pricing, as early as next year.
“As we continue to show the benefit of this technology in our company-operated restaurants, franchisee interest in digital menu boards should increase, further supporting sales and profit growth across the system.”
Wendy’s Co. plans to invest about $20 million to launch digital menu boards at all of its U.S. company-run restaurants by the end of 2025.
It also plans to invest approximately $10 million over the next two years to support digital menu enhancements globally.
Last year, Penegor announced a restructuring intended to speed decision-making and invest more in new restaurant development, particularly overseas.
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Real restaurants have been doing this for years, but rather than raising prices at peak times, they lower them during the slow hours.
They’re called specials
So you want customers to pay more for shittier service and already overpriced burgers? Fuck that.
Unpopular opinion, but I like it.
I don't eat Wendy's stuff often, but when I do it's late at night, or other unpopular times. So, it would be cheaper for me. At popular times the higher prices will discourage people from going, so whoever does go will have a shorter line.
What makes you think it will be cheaper? (at any time if the day vs now)
That's how surge pricing works.
Right now they have to set a price that's reasonable both when the place is empty, and when it is jam packed. The price they're using is going to be right in the middle.
If they can change prices dynamically, they'll want to slightly reduce the crowd when things are busiest, and earn more per customer, and they'll want to draw people in when it's empty. When it's empty they have to pay for workers to sit around doing nothing. They make more money (or lose less money) if those workers are kept busy. To do that, they'll want to increase traffic by lowering prices.
Yeah, no. The base price will be whatever price it is now (probably higher), then price will increase during busy times. They have zero incentive to make it cheaper, ever.
They have zero incentive to make it cheaper, ever.
Sure they do, competing against other burger joints. There's a reason the prices are set where they are now: they're high enough to generate a profit, but low enough to entice people to come there instead of other burger joints. But, right now those prices are static, not dynamic.
A burger joint that's open late has to pay for staff. If they're just sitting around without any customers they're losing money. If they can lower prices to get people to come to them instead of Mc Donalds or Burger King at night, then they can presumably make more money.