Prof Ben Voyer’s Post

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The Cartier Chaired Professor of Behavioural Science - Research Chair Turning Points by Cartier - ESCP - HEC Paris - FORBES Contributor

Can retail companies imitate digital ideas? Surge pricing has become the norm for ride-hailing apps - at least most, including Uber! What prevents other industries from doing the same? Restaurants are experiencing high variations in demand depending on the time of the day - in short, consumers surprisingly (!) all want to have breakfast, lunch and dinner at roughly the same time. Yet, implementing the same idea of surge pricing is not straightforward, as The Wendy's Company recently experienced. Consumers hate price increases. The same goal could be reached by giving discounts at off-peak time - and leaving prices unchanged at peak time (with an initial increase). #SurgePricing #Food #Restaurants #Pricing

Wendy’s Digital News Update

Wendy’s Digital News Update

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