There was a lot of backlash on Wendy's announcing they're Uberizing their menuboards to use dynamic pricing, increasing prices during surge times.
So much so, that Wendy's corporate issued a statement insisting it was all a media misunderstanding:
We said these menuboards would give us more flexibility to change the display of featured items. This was misconstrued in some media reports as an intent to raise prices when demand is highest at our restaurants. We have no plans to do that and would not raise prices when our customers are visiting us most.
Whew! That's a relief!
So what exactly are the new dynamic menuboards for?
Any features we may test in the future would be designed to benefit our customers and restaurant crew members. Digital menuboards could allow us to change the menu offerings at different times of day and offer discounts and value offers to our customers more easily, particularly in the slower times of day.
Raising prices during the busy times?
Try lowering them during the slow times.
Honestly, if the idea hadn't been presented as raising prices first, this new marketing spin would have worked.
See the "that's how the free markets work" comment in our coverage of the original snafu.
Charging higher prices when there's more demand is one of the basic tenets of economics. It's the basic principle behind 'Happy Hour,' say, or matinee prices at movie theaters.
But it's always presented from a "get a cheaper product when there's less demand" angle.
Who wouldn't love a cheeseburger happy hour?
And maybe it was the media that spun Wendy's idea the wrong way, but it's going to be hard to see Wendy's plan as anything other than Uberizing the surge times going forward.
Even if it‘s the exact same thing.
P.S. Now check out our latest video 👇
