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Surge Pricing

All articles tagged with #surge pricing

business1 year ago

"Consumer Backlash: Wendy's Struggles with Unstable Prices"

Wendy's faced backlash over plans to increase menu prices during peak hours, highlighting consumer sensitivity to price variations. Dynamic pricing, which involves continuously adjusting prices based on various factors, is common in industries like airlines, hotels, and online retail. While not common in restaurants, some are using it for orders through third-party apps. Grocers and restaurants are increasingly turning to digital pricing due to labor shortages and high inflation. Experts believe changing public attitudes toward dynamic pricing, especially in fast-food restaurants, will be challenging.

via KABC-TV|
#business#consumer-behavior#dynamic-pricing
business1 year ago

"Wendy's Dynamic Pricing Backlash: Lessons Learned and Free Whoppers Offered"

Wendy's faced backlash after CEO Kirk Tanner mentioned implementing dynamic pricing during an earnings call, which was interpreted as surge pricing by the public. The company quickly backtracked, stating that they did not plan to implement surge pricing, but the damage was done. Competitors like Burger King and Chili's capitalized on the PR disaster, offering freebies and support to customers. Wendy's stock fell, and the company's February was filled with negative media attention and a failed attempt to offer free Cinnabons as a gesture of goodwill.

via Quartz|
#business#dynamic-pricing#fast-food
business1 year ago

"Burger King's Free Whopper Offer Sparks Pricing Battle with Wendy's"

Burger King is offering free Whoppers in response to Wendy's announcement of surge-pricing plans, throwing shade at their competitor. Wendy's faced backlash and clarified that surge pricing isn't part of their plan, emphasizing that they have no intention of raising prices when demand is highest. This move adds to the ongoing competition between the two fast food chains, with Burger King and Wendy's engaging in playful banter on social media.

via New York Post |
#burger-king#business#competition
business1 year ago

"Wendy's Vows No Surge Pricing Despite Consumer Backlash"

Wendy's faced backlash over potential menu price increases during peak hours, highlighting consumer sensitivity to price variations. Dynamic pricing, which involves continuously adjusting prices based on various factors, is common in industries like airlines, hotels, and online retail. While not common in restaurants, some are using it for orders through third-party apps. Grocers and restaurants are increasingly turning to digital pricing due to labor shortages and pandemic concerns. Experts note that changing public attitudes toward dynamic pricing, especially in fast-food restaurants, will be challenging.

via The Associated Press|
#business#consumer-behavior#dynamic-pricing
business1 year ago

"Wendy's Commits to No Surge Pricing for Burgers Despite Online Backlash"

Wendy's faced backlash after reports of potential "surge pricing" for its menu, prompting social media mockery and criticism from politicians. The company clarified that it has no plans for surge pricing and emphasized its commitment to benefiting customers and staff. Wendy's CEO had mentioned testing more flexible digital menu boards with AI-enabled features, but further details on the proposal were not immediately released. Wendy's has been experimenting with AI technology, including an AI chatbot for drive-thru orders, as it navigates a challenging period for its business.

via The Daily Beast|
#business#dynamic-pricing#fast-food
business1 year ago

"Wendy's Confirms No Surge Pricing Amid Backlash"

Wendy's denies plans for surge pricing after facing backlash for discussing the possibility of implementing dynamic pricing on digital menu displays, clarifying that the goal is to offer more flexibility in displaying featured items and promoting discounts during slow periods. The company emphasized that it has no intention of raising prices during peak demand and never used the term "surge pricing", following criticism from customers and public figures like Senator Elizabeth Warren.

via BBC.com|
#backlash#business#digital-menu-displays
business1 year ago

"Wendy's Vows No Surge Pricing Amid Backlash and Burger King's Response"

Wendy's CEO initially mentioned plans to experiment with dynamic pricing, leading to concerns about surge pricing for menu items, but the company later clarified that the new pricing model would not raise prices and would instead offer discounts, particularly during slower times of day. The company is investing in digital menu boards and other tech upgrades to enhance customer experience and expects to reach $2 billion in global digital sales by 2024.

via Business Insider|
#business#customer-benefits#digital-menu-boards
business1 year ago

"Burger King's Free Whopper Response to Wendy's Pricing Controversy"

Burger King is offering a free Whopper or Impossible Whopper with a purchase of $3 or more in response to Wendy's announcement of testing a "dynamic pricing model." Wendy's CEO mentioned plans to roll out a dynamic pricing model by 2025, leading to criticism and backlash, including from Massachusetts Sen. Elizabeth Warren. Wendy's has defended its new digital menus, stating they won't raise prices during peak times but will offer discounts and value offers during slower times.

via USA TODAY|
#burger-king#business#dynamic-pricing
business1 year ago

"Wendy's Reverses Dynamic Pricing Plan Amid Backlash"

Wendy's backtracked on plans to implement surge pricing at its restaurants after facing backlash, clarifying that it will not raise prices when demand is highest. The company stated that digital menu boards will provide flexibility to change featured items and offer discounts, aiming to benefit customers and restaurant crew members. Wendy's CEO previously mentioned using this technology to support sales and profit growth. The fast-food chain will invest $20 million in implementing new features, including real-time fluctuating prices and AI-enabled menu changes.

via Fox Business|
#business#controversy#dynamic-pricing
business1 year ago

"Wendy's Confirms No Plans for Surge or Dynamic Pricing Despite Speculation"

Wendy's clarified that it will not implement surge pricing despite previous reports, and instead plans to experiment with dynamic pricing using new digital menu boards. The company may offer discounts during slower times of day and potentially lower prices to attract more customers. While surge pricing has been implemented in various industries, it can erode customer trust and drive them to competitors, although it may result in lower prices during non-peak periods.

via NPR|
#business#customer-trust#dynamic-pricing
business1 year ago

"Wendy's Assures No Surge Pricing Amid Dynamic Pricing Controversy"

Wendy's denies plans for surge pricing on menu items, stating that its "dynamic" pricing model will only result in discounts and value during slow times of day, with no intention to raise prices when demand is highest. The fast food chain's CEO previously mentioned plans to test dynamic pricing in 2025 using digital menu boards, but Wendy's spokesperson clarifies that surge pricing is not part of the strategy. However, concerns and criticism have arisen, with Senator Elizabeth Warren calling the plans "price gouging" and a New York state assemblymember drafting a bill to prevent surge pricing on Wendy's menu items.

via The Verge|
#business#digital-menu-boards#dynamic-pricing
business1 year ago

"Wendy's Backtracks on Surge Pricing Plans After Social Media Backlash"

After facing backlash over CEO Kirk Tanner's mention of "dynamic pricing" during an earnings call, Wendy's clarifies that it will not implement surge pricing, emphasizing that any future features will be designed to benefit customers and restaurant crew members. The company plans to invest in digital menu boards at its U.S. company-run restaurants by 2025, allowing for menu changes, discounts, and value offers at different times of day.

via KTLA Los Angeles|
#business#digital-menu-boards#dynamic-pricing
business1 year ago

"Wendy's CEO Confirms No Surge Pricing Amid Online Controversy"

Wendy's CEO caused online stir by announcing plans to test "dynamic pricing" at its restaurants, which could include surge pricing based on demand, but the company later clarified that it has no plans to raise prices during peak demand. The idea of surge pricing in the restaurant industry has sparked consumer backlash and skepticism from industry experts, with concerns that it could drive customers away and further weaken demand for Wendy's.

via Reuters|
#business#consumer-backlash#dynamic-pricing
business1 year ago

"Wendy's Abandons Surge Pricing Plans Amid Backlash"

Wendy's CEO initially mentioned plans for "dynamic pricing" using digital menu boards, sparking concerns of surge pricing, but the company later clarified that it will not implement surge pricing or raise prices during peak hours. The fast-food chain plans to invest $20 million in high-tech menu boards that can update prices in real-time. While some restaurants have seen success with dynamic pricing, experts warn that consumers may view it as a ripoff, especially as Wendy's menu costs have already risen 35% due to inflation between 2022 and 2023.

via New York Post |
#business#digital-menu-boards#dynamic-pricing
business1 year ago

"Wendy's Tests Surge Pricing for Lunch Rush Profits"

Dozens of restaurants, including Tony Roma’s and Rachel’s Kitchen, have implemented surge pricing, reaping tens of thousands of dollars in additional profits. Wendy’s plans to introduce fluctuating menu prices next year, sparking anger and anxiety from customers. The surge pricing, facilitated by software from Sauce Pricing, allows for price increases of 10% to 20% during peak times. While some see it as a way to cope with rising costs, others criticize it as price gouging. Experts predict that surge pricing will become more common in the restaurant industry, similar to practices in airlines and hotels.

via New York Post |
#business#dynamic-pricing#profits