• Burger chain Wendy's looking to test surge pricing at restaurants as ea

    From Biased Journalism@21:1/5 to All on Tue Feb 27 17:03:22 2024
    XPost: or.politics, ca.politics, alt.fan.rush-limbaugh

    <http://apnews.com>
    Burger chain Wendy's looking to test surge pricing at restaurants as early
    as next year
    By MICHELLE CHAPMAN

    February 27, 2024

    Wendy's is looking to test having the prices of its menu items fluctuate throughout the day based on demand, implementing a strategy that has
    already taken hold with ride-sharing companies and ticket sellers.

    During a conference call earlier this month, Wendy's CEO Kirk Tanner said
    that the Dublin, Ohio-based burger chain will start testing dynamic
    pricing, also known as surge pricing, as early as next year.

    "Beginning as early as 2025, we will begin testing more enhanced features
    like dynamic pricing and day part offerings, along with AI-enabled menu
    changes and suggestive selling," he said. "As we continue to show the
    benefit of this technology in our company-operated restaurants, franchisee interest in digital menu boards should increase, further supporting sales
    and profit growth across the system."

    Wendy's Co. plans to invest about $20 million to launch digital menu
    boards at all of its U.S. company-run restaurants by the end of 2025. It
    also plans to invest approximately $10 million over the next two years to support digital menu enhancements globally.

    Tanner, a longtime PepsiCo executive, became Wendy's CEO earlier this
    month. He succeeded Todd Penegor, who had served as Wendy's president and
    CEO since 2016.

    Last year, Penegor announced a restructuring intended to speed
    decision-making and invest more in new restaurant development,
    particularly overseas. The chain and its franchisees operate about 7,000 restaurants worldwide.

    Shares of Wendy's fell slightly in Tuesday morning trading.



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