Zebrano Leaves Price Up To You
References: caterersearch
It worked in the music industry for Radiohead, but can the pay-what-you-want concept work in the food industry too? A innovative London restaurant is ready to make a bold move by offering a "pay what you like" menu. Zebrano, the restaurant and cocktail bar, will let patrons order from a price-less menu, then pay the amount they feel the experience was worth.
The pay-as-much-as-you-like trial kicks off on July 9; every Wednesday, diners can be choose items from a new tapas menu to which the concept applies.
"We have a lot of regular customers and I'm confident that people won't take advantage," the owner, Don Cameron said. "If the food tastes good and looks good, I'm convinced they'll be happy to pay what it's worth."
If all goes well, he'll make the new menu available Mondays and Tuesdays as well.
"There's so much doom and gloom around at the moment that giving people value for money is the key difference," he said.
Room, a restaurant in Leeds, tried a similar approach in May, but they took an even bigger risk by offering the open pricing to main courses.
We've seen the pay-what-you-want concept applied to music before, and it seemed to work pretty well!
The pay-as-much-as-you-like trial kicks off on July 9; every Wednesday, diners can be choose items from a new tapas menu to which the concept applies.
"We have a lot of regular customers and I'm confident that people won't take advantage," the owner, Don Cameron said. "If the food tastes good and looks good, I'm convinced they'll be happy to pay what it's worth."
If all goes well, he'll make the new menu available Mondays and Tuesdays as well.
"There's so much doom and gloom around at the moment that giving people value for money is the key difference," he said.
Room, a restaurant in Leeds, tried a similar approach in May, but they took an even bigger risk by offering the open pricing to main courses.
We've seen the pay-what-you-want concept applied to music before, and it seemed to work pretty well!
Trend Themes
1. Pay-what-you-want Pricing - Restaurants and other service industries can increase customer loyalty and engagement by offering pay-what-you-want pricing options.
2. Innovative Dining Experiences - Restaurants can stand out and attract more customers by offering unique experiences such as pay-what-you-want pricing.
3. Value-based Pricing Model - Pay-what-you-want pricing models show potential for shifting the focus from cost-based pricing to value-based pricing in various industries.
Industry Implications
1. Restaurant Industry - The restaurant industry can leverage pay-what-you-want pricing to increase customer engagement and loyalty while also creating buzz and gaining media attention.
2. Hospitality Industry - Hotels and other hospitality businesses can offer more personalized experiences and increase customer satisfaction by implementing pay-what-you-want pricing models.
3. Entertainment Industry - The entertainment industry can benefit from pay-what-you-want pricing for events and activities, enhancing customer engagement and loyalty while generating positive buzz.
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