The Restaurant Industry Considers Charging More During Peak Times
Meghan Young — April 16, 2015 — Tech
References: foodabletv & forbes
The Uber business model has disrupted the way other industries view pricing -- restaurants being one of them; so much so that consultants are now recommending surge menu pricing during peak hours. Eateries may go so far as to add a surcharge to reserve a table on popular nights. The science behind menu pricing is already sophisticated, but that doesn't mean it can't benefit from a bit of a tweak.
Although it would be interesting to see how restaurants would introduce surge menu pricing -- perhaps through a similar app to Uber's very own -- there will have to be some sort of preface to the differences. As Forbes points out, "Hopefully, that same surge technology will warn diners when a meal is having a price spike, so we can arrive early or late and get a deal."
Although it would be interesting to see how restaurants would introduce surge menu pricing -- perhaps through a similar app to Uber's very own -- there will have to be some sort of preface to the differences. As Forbes points out, "Hopefully, that same surge technology will warn diners when a meal is having a price spike, so we can arrive early or late and get a deal."
Trend Themes
1. Surge Menu Pricing - Restaurants considering surge menu pricing during peak hours creates an opportunity for disruptive innovation in the food service industry.
2. Price Surge Technology - The introduction of surge technology similar to Uber's for menu pricing can create disruptive innovation opportunities in the restaurant industry.
3. Advanced Menu Pricing - Sophisticated menu pricing techniques can benefit from a bit of a tweak, opening up opportunities for disruptive innovation within the restaurant industry.
Industry Implications
1. Food Service - Surge menu pricing during peak hours presents a disruptive innovation opportunity within the food service industry.
2. Technology - Developing surge technology for menu pricing can lead to disruptive innovation within the technology industry.
3. Hospitality - Incorporating advanced menu pricing techniques can create disruptive innovation opportunities within the hospitality industry.
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