OnDemand WTP Pricing Research

Tag: Menu Pricing

Why Surge Pricing and Blockchain Tracking at Restaurants Aren’t Far Off | Skift Table

Why Surge Pricing and Blockchain Tracking at Restaurants Aren’t Far Off | Skift Table

Kokonas, who is also co-owner of culinary reservation system Tock, previously told Bloomberg that he thinks customers should be able to pay for their meal in advance. “I’m a big advocate for dynamic pricing,” he said during the panel. Rather than create culinary gimmicks with artificially inflated prices to make ends meet, Kokonas thinks restaurants […]

Surge Pricing May Save Your Favorite Restaurant | Bloomberg

Surge Pricing May Save Your Favorite Restaurant | Bloomberg

Next year, the restaurant experience will be defined more than ever by technology, according to the panelists at Bloomberg’s The Year Ahead: Luxury conference on Thursday. Blockchain, surge pricing, and facial-recognition software were all listed as ways that dining out will evolve in 2019. Maria Font Trabocchi, the Washington restaurateur behind Fiola and Del Mar, spoke about what’s to come in fine dining during […]

A $49 lobster roll? A recent shortage has lobster prices soaring. | The Boston Globe

A $49 lobster roll? A recent shortage has lobster prices soaring. | The Boston Globe

It’s no shell game: As the price per pound has skyrocketed over the last few months, the costs of lobster dishes on restaurant menus across the city have been off the charts as chefs have been looking to claw back some of the margins. A combination of lousy weather, international demand, and iced-over Canadian fisheries […]

Feedback App Lets Restaurants Pick Their Off-Peak Pricing | The Spoon

Feedback App Lets Restaurants Pick Their Off-Peak Pricing | The Spoon

If you’ve ever been to a restaurant between two and five o’clock, chances are pretty good that you walked into a near-empty establishment, with servers, hosts and kitchen staff waiting around until the dinner rush. Feedback wants to make those off-peak hours more productive by giving restaurants the ability to offer dynamic pricing and discounts […]

Pret a Manger’s pricing policy is raising eyebrows when wealth divides are widening | Verdict

Pret a Manger’s pricing policy is raising eyebrows when wealth divides are widening | Verdict

The move could raise awareness of Pret’s (and others) current flat pricing strategy. Pret a Manger has boasted its employees had given away 1.7 million free cups of coffee through its “random acts of kindness” scheme in its 2016 financial report — but the value of a free cup of coffee is not the same […]

Pricer’s Points: Is dynamic pricing good for restaurants and hotels? | Linchi Kwok

Pricer’s Points: Is dynamic pricing good for restaurants and hotels? | Linchi Kwok

According to the theories in classical economics, an equilibrium price of a product will be reached in a free market when supplies meet demands. When supplies remain stable, an increase in demands will result in a higher selling price for the product. Restaurants and hotels offer service products that are perishable in nature (e.g., restaurant […]

MultiBrief: Is dynamic pricing good for restaurants and hotels? | MultiBriefs

MultiBrief: Is dynamic pricing good for restaurants and hotels? | MultiBriefs

Does dynamic pricing really work? Referring back to the case of Bob Bob Ricard, a follow-up NPR report suggests that dynamic pricing works well for the restaurant. Ever since the restaurant implemented the new strategy, store traffic during the “normal” quietest times has nearly doubled. While the average check for two guests in the restaurant […]

New app that lets you spin to choose restaurants debuting in Lynchburg | WSET

New app that lets you spin to choose restaurants debuting in Lynchburg | WSET

LYNCHBURG, Va. (WSET) – A new app, called Spotluck, is debuting in Lynchburg and developers hopes it will bring dynamic pricing to the restaurant industry with a “gamified spin.” The app pioneers real-time discounts that fluctuate based on day, time, weather and other factors that impact restaurant occupancy. Their software yields higher discounts on rainy […]

Luxury London Restaurant Will Tailor Pricing According to Customer Demand | Eater London

Luxury London Restaurant Will Tailor Pricing According to Customer Demand | Eater London

It’s a bold move from an institution clearly aware of its status, willing to compromise something of its exclusivity, as owner Leonid Shutov notes: “To stay competitive, we need to be able to serve people a fantastic lunch without charging ridiculous prices … One of the ways of doing that is ensuring a more even […]

Red Robin Makes Nationwide Announcement On All 570 Locations — Direct Result of Failed Liberal Policies | Your Daily Breifing

Red Robin Makes Nationwide Announcement On All 570 Locations — Direct Result of Failed Liberal Policies | Your Daily Breifing

On Monday, the national restaurant chain Red Robin announced it would eliminate busboys at all of its 570 restaurants, as the company expects it will save $8 million in 2018 by doing so. Red Robin’s chief financial officer Guy Constant told attendees at the ICR retail conference, “We need to do that to address the […]