Wendy was recently in the news for all the wrong reasons.
Multiple publications, including MobileSyrup, reported that the fast-food chain might be moving toward an Uber-style surge pricing model, which it referred to as ‘Dynamic Pricing.’ Now, Wendy’s has clarified that its Dynamic Pricing doesn’t actually involve increasing the prices of its menu items.
In a statement to the Associated Press (via CTV News), we now know that prices won’t rise during peak hours. Instead, the company plans to utilize dynamic pricing strategically through its upcoming digital menu boards.
“Wendy’s will not implement surge pricing, which is the practice of raising prices when demand is highest. We didn’t use that phrase, nor do we plan to implement that practice,” the company said in an email to the AP. Instead, Dynamic Pricing will be used to test value-oriented strategies, potentially including discounts and targeted offers during slower periods, and its new digital menu boards will be at the forefront of making it possible.
Overall, Wendy’s statement clarifies that Dynamic Pricing will likely prioritize offering customers value and a personalized experience through technology, rather than mooching during rush hours.
Regardless, Dynamic Pricing will only be tested in the U.S. to begin with. It is unclear if and when it might come to Canada.
Source: Associated Press (CTV News)
