Scott Stevens

Scott Stevens

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Backpedal Time -Wendy’s Clarifies “Dynamic Pricing” Plans

How do you know an idea is a really, really bad idea? When, within hours of you announcing your big new plan, the Internet rises en masse to tell you how wrong-headed you are (and that’s using G-rated language. The Internet cares not for such niceties). After Wendy’s announced their so-called “surge pricing” plan, which would raise or lower prices on menu items on a minute-by-minute basis, the public saw this as a subtle high-tech way of price gouging. No no! As Internet pundits rose up in anger, Wendy’s went into backtrack mode. In a blog post on Tuesday, the fast-food chain explained that its test of new menus with prices that change throughout the day is not meant to cost more for customers. “This was misconstrued in some media reports as an intent to raise prices when demand is highest at our restaurants,” the company statement read. “Digital menu boards 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.” So get it right: the plan is not to maximize profits; they’re looking to save you - the consumer - money. Then, in an email to CNN, Wendy’s was more blunt: “Wendy’s will not implement surge pricing, which is the practice of raising prices when demand is highest. This was not a change in plans. It was never our plan to raise prices when customers are visiting us the most.” But it may be just a matter of semantics; Lindsay Owens, the executive director of the Groundwork Collaborative, a DC-based, progressive policy group, wrote in an email to CNN. “After considerable public pushback, Wendy’s is now framing their dynamic pricing strategy as discounts during off-peak times instead of surge pricing during peak times,” she wrote.

Source: CNN


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