Great credit crunch news. Now you can dine out and pay what you like. A London restaurant, called Little Bay, situated in Ferringdon, London, has scrapped its checks. Instead of charging a set price for each dish, they ask their customers to pay what they think their food and service is worth.
I think this is an absolutely brilliant idea and great example which I hope more restaurants will follow suit. The Little Bay restaurants are renowned for their fresh, hearty meals set in an opulent decor. If you are visiting London or happen to live in this neck of the wood visit Little Bay for more details.
Dining For a Penny?
Credit Crunch Initiative from ‘Little Bay' Restaurant in London
Trend Themes
1. Pay-what-you-want Dining - Disruptive innovation opportunity: Implementing a pay-what-you-want model in restaurants to attract more customers and increase customer satisfaction.
2. Credit Crunch Initiatives - Disruptive innovation opportunity: Introducing credit crunch initiatives in various industries to provide affordable options and boost customer loyalty.
3. Opulent Decor Trend - Disruptive innovation opportunity: Incorporating opulent decor in various business sectors to create a luxurious and immersive customer experience.
Industry Implications
1. Restaurants - Disruptive innovation opportunity: Redefining traditional restaurant business models by implementing innovative pricing strategies.
2. Hospitality - Disruptive innovation opportunity: Incorporating credit crunch initiatives in the hospitality industry to offer more affordable options to travelers and encourage repeat business.
3. Interior Design - Disruptive innovation opportunity: Catering to the opulent decor trend in the interior design industry by offering luxurious and grand design solutions.