Regular customers of the restaurant chain Wendy’s You must check the prices of the products beforehand in order to continue enjoying 10 pieces of them Nuggets for $5.99. The General Director, Kirk Tannerfrom Wendy’s has announced that the Dublin-based chain will begin adjusting the prices of its products in line with demand from 2025.
To complement the new pricing strategy, they have announced the introduction of digital screens next to the menus that dynamically display price changes. These screens will integrate artificial intelligence to speed up price adjustments. It is estimated that this initiative will require a Investment of 30 million dollars (around 26 million euros).
Tanner He emphasized that franchisees’ interest in digital menus is expected to increase significantly as they continue to demonstrate the benefits of this technology in the restaurants operated by the company. In his opinion, this trend should have a positive impact on higher sales and profit growth throughout the system.
Wendy’s is the third largest burger chain in the United States.. McDonald’s would take first place, followed by Burger King.
Which industries use a dynamic pricing strategy?
The dynamic pricing strategy is not a specific innovation Wendy’swas commonly used by Transport companies like Uber or Cabify. This strategy involves adjusting prices based on the availability of vehicles on the roads, allowing these companies to generate higher revenue during peak hours or during adverse weather conditions.
Likewise, this approach has been expanded to other sectors, such as the entertainment industry, where it is used to capitalize on demand during periods of high attendance, such as performances by globally recognized actors or singers, resulting in a significant increase in benefits.