Surge pricing
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Still a dumb idea. As a consumer, lowering the prices at slow times is effectively the same as raising them at busy times.
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Surge pricing works for Uber because their drivers are even more of a consumer of their product than the customers. They need drivers to turn on the app…
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Like lowering the prices during “happy hour” is effectively the same as raising them during all other unhappy hours?
@Axtremus said in Surge pricing:
Like lowering the prices during “happy hour” is effectively the same as raising them during all other unhappy hours?
Nope. Try again.
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@89th said in Surge pricing:
How will consumers know of the lower price?
You think they won't notice? There are nutters out there measuring the gram weight of Betty Crocker mix to prove the conspiracy that you get marginally less per box now, and they were right about it.
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No, I mean... if I were driving down the road, what is going to tell me that Wendy's price is now $1.50 instead of $1.75?
@89th said in Surge pricing:
No, I mean... if I were driving down the road, what is going to tell me that Wendy's price is now $1.50 instead of $1.75?
Dynamic signage. It was in both articles.
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See? Much easier for you just to tell me than to read it on my own. Plz also text me when the cheeseburger is 99 cents.
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See? Much easier for you just to tell me than to read it on my own. Plz also text me when the cheeseburger is 99 cents.
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See? Much easier for you just to tell me than to read it on my own. Plz also text me when the cheeseburger is 99 cents.
@89th said in Surge pricing:
See? Much easier for you just to tell me than to read it on my own. Plz also text me when the cheeseburger is 99 cents.
Ok.
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@89th said in Surge pricing:
See? Much easier for you just to tell me than to read it on my own. Plz also text me when the cheeseburger is 99 cents.
Ok.
@Mik said in Surge pricing:
@89th said in Surge pricing:
See? Much easier for you just to tell me than to read it on my own. Plz also text me when the cheeseburger is 99 cents.
Ok.
Mik, that’s $1.00. He asked for 99 cents. Stop encouraging inflation.
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Article which goes more in deep on "dynamic pricing" for products (esp food)
https://www.vox.com/money/24105250/fast-food-restaurants-dynamic-pricing-algorithm-wendys
Amazon, for example, reportedly changes prices millions of times per day, with the average product’s price shifting every 10 minutes. The FTC, which sued the e-commerce giant last year accusing it of being an illegal monopoly power, alleges that Amazon used an algorithm to test whether competitors would match the company’s price increases on certain products and keep their own price high if they did match. The FTC estimates that Amazon made about an extra $1 billion in revenue through this automated pricing process. Amazon has said that it no longer uses the algorithm and that it was a brief experiment to see whether its price-matching system could lead to unsustainably low prices. (Over a decade ago, Amazon’s algorithm did go haywire and priced a book at almost $24 million.)
and
Variable pricing for food also isn’t new to the restaurant industry, particularly in fine dining where eating is more about the experience of high-quality food and ambiance than it is about filling caloric needs, as fast food is more likely to be. More so than fast food, dynamic pricing is “very likely to come around to table service restaurants,” says Zagor, not only for the food itself but even for the tables. Reservations for the best seat in the establishment at primetime on a Friday or Saturday, for example, could come at a higher cost than a midday reservation during the week. Dynamic pricing could even come to grocery stores as more US retailers install electronic shelf labels that allow merchants to effortlessly tweak prices for thousands of products.
