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Wendy’s To Introduce Surge Pricing Similar to Uber
February 26, 2024
Wendy’s, the popular fast-food chain, is gearing up to roll out a new pricing strategy that mimics the surge pricing model used by ride-sharing services like Uber. This means that the cost of your favorite Wendy’s items could fluctuate throughout the day depending on demand.
The CEO of Wendy’s, Kirk Tanner, recently announced this innovative pricing system during a call with investors. According to Tanner, the dynamic pricing model will be tested starting in 2025. The idea is simple: Prices will be higher during peak meal times, such as breakfast, lunch, and dinner rushes, and lower during slower periods.
For example, a Dave’s Single quarter pounder burger, which currently sells for $5.99 at a Wendy’s location in Newark, New Jersey, could see its price increase by as much as $1 during the lunchtime rush. Conversely, during quieter times like mid-morning or late afternoon, the price could drop below $5.99 by as much as $1.
To implement this pricing strategy, Wendy’s will rely on digital menu boards that can be updated in real time. The company plans to invest $20 million in these high-tech menus to ensure seamless pricing adjustments without incurring additional overhead costs.
It’s worth noting that the cost of Wendy’s items already varies depending on the location. For instance, a Dave’s Single burger costs $5.99 in Newark, New Jersey, but $8.19 at a Wendy’s in Times Square.
While surge pricing has been successful for companies like Uber and Lyft, it remains to be seen how consumers will react to dynamic pricing in the fast-food industry. Some may view it as price gouging, while others may appreciate the flexibility it offers.
Regardless, Wendy’s is moving forward with its plans to introduce surge pricing in 2025. Time will tell whether this bold strategy pays off for the fast-food giant.
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