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Dynamic pricing
(slrpnk.net)
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this post was submitted on 21 Aug 2024
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Are happy hours and lunch specials not dynamic pricing? It's just a different way of framing it as a discount rather than surge price, but it's basically the same idea as far as I'm concerned. I'm happy to vote with my wallet on this, if Wendy's decides they want dynamic prices then I'll just go elsewhere. Fast food certainly isn't an essential.
It is known in advance which item is in special and at what price during a determined period of time.
With dynamic pricing, the price could change between you choosing what you want and actually order, without any notice.
This is two different beasts.
I think what they're going to do is to change the price based on how much they think you can afford.
Say "I got a bonus today" while your phone is listening? Guess eggs just went up 20%.
Not familiar with the implementation, so maybe this is incorrect, but does Wendy's tell you when you're paying more or less? If not, my primary issue would be transparency. I know to show up for happy hour or lunch and I know what the prices will be.
I don't want to have to memorize the prices because they quietly bump up everything on the menu by $0.50 at peak meal times everyday for an hour and don't indicate that anywhere.
As the other guy said, lunch specials aren't dynamic insofar as any pricing can be dynamic when the restaurant just changes prices willy-nilly. Which is what surge pricing is.
Lunch specials are a separate, generally static part of the menu. Like how using a coupon isn't considered dynamic pricing for the times when you have a coupon on you.
Lunch menus everywhere I've gone give smaller portions vs. the dinner menu to justify the ~~lottery~~ lower price. I'd love some lunch portions (and prices) for dinner as an option.
Happy hour is a good analogy though, except that they publish the prices and times 24/7 so it's not a surprise like surge pricing is turning into.