Cherian Thomas could notice a trend on the horizon: dynamic pricing was helping some of the internet age’s biggest companies swallow up market share. But he was troubled when some of those best practices weren’t being applied to one of the most common choices that customers make: where to eat. “When you look at Priceline, […]
RICHMOND, VA (WWBT) – Richmond’s restaurants have put us on the map as one of the top places in the world to travel for food. There’s a new way for you try some of the RVA’s hottest spots without paying full price. It’s the age old question, where do you want to eat? Spotluck has […]
Brunch is a weekly tradition in Dubai and competition is fierce with venues slashing prices and offerings. However, at what point does the discounted offering impact on the quality of the experience? At Zero Gravity, our Saturday brunch concept — SuperNatural — is attracting record figures. Every week the queue starts at 9am and we […]
The best way to balance your menu is to know what items are more prone to price fluctuations and surround them on your menu with the more stable menu items. Know How to Price Your Menu Menu pricing is an art and to do it right, you have to know the food costs. Knowing how […]
Setting menu pricing for the products you sell from your food truck is one of the most crucial components to running it, because the prices you set directly affect your ability to sell, cover costs, and generate your desired level of profit. Food cooked on food trucks is normally priced on a per item basis. […]
For years, restaurant owners have argued that a higher minimum wage means pricier meals.Now some restaurants in states that recently raised the minimum wage — including Arizona, California, and Colorado — are putting the proof in customers’ checks. Surcharges of 3% to 4% to pay for higher labor costs are “the emerging new norm,” a […]
And here’s another thing: by lowering your price, you could be making that meal less desirable to the consumer. Why? Because a lot of people associate cheap prices with poor quality. (Just think back to the last time you were looking for a nice bottle of wine and automatically rejected everything under $20.) What Apple […]
This view of people of color as sources of “cheap” labor bleeds into our restaurant culture: Immigrant food is often expected to be cheap, because, implicitly, the labor that produces it is expected to be cheap, because that labor has historically been cheap. And so pulling together a “cheap eats” list rather than, say, an […]
When it comes to pricing your services or products, you will be surprised to know that pricing changes can effect your business quite a bit. If you think about it, you probably have competitors, so your customers don’t need to buy your services or products. They usually do it because of your unique selling proposition, […]
New app City Munch lets diners pay less during quieter periods to help restaurants put bums on seats, offering real-time deals in your area. It’s 4pm and you’re hungry. You open your City Munch app and see there are six restaurants nearby offering up to 50pc off their food. Ten minutes later, you sit down […]
Pricing News Daily is a digest of top pricing strategy in the news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals, business owners, creative professionals, and independent contractors. This Edition is brought to you by: Strategic Pricing Solutions Strategic Pricing Solutions, LLC (SPS) is a management […]
This Week in Pricing > 9/16/17
This Week in Pricing is a recap of the week’s best pricing focused news, strategy expert and technology leader’s thought leadership, industry news and events, and resources for pricing professionals. This Edition is brought to you by: Value Innoruption Advisors Founded by Dr. Stephan Liozu, Value Innoruption Advisors provides training and consulting resources for organizations […]
Texas AG files first 3 price gouging lawsuits | KDFW
According to a release from attorney general’s office, state law prohibits businesses from charging exorbitant amounts during a declared disaster. The Bains Brothers, who own Texaco-branded gas station in Arlington, Carrollton and Richardson, were accused of charging the higher price even while displaying signs with prices in the $3-$4 range. Additional lawsuits were filed against […]
Why Businesses Should Lower Prices During Natural Disasters | Harvard Business Review
It’s a longstanding debate that’s reemerged during Hurricanes Irma and Harvey: During a time of crisis, should merchants raise or maintain prices when demand increases for essential products such as water, gas, and bread? Now, due to the influence of social media, a new alternative is emerging: Why not lower prices during these critical times? Economists usually […]
It’s that time of year when kids are heading back to school, others are graduating or just moving house, and millions of individuals are shopping for new furniture. Increasingly, people are buying stuff like sofas and dressers—things they used to test out in person—on the internet, thanks to the free shipping and low prices offered […]
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