Listen: Restaurants Experiment With Surge Pricing
If you’re familiar with how Uber works, you are aware of when surge pricing takes place as ultimately supply and demand can drastically increase or lower prices depending on where you are. Well, typically this has only been practiced in ride-sharing or in other transportation/hospitality services but now one restaurant in London is taking this concept and implementing it to see how it does in their business. Bob Bob Ricard is the name of the restaurant and during its off-peak hours, you can expect up to a 25% discount, however it is a double-edged sword during its busiest hours, you can expect the same type of increase as well. Owner and Founder Leonid Shutov said to Bloomberg that, “the idea just came from looking at how the rest of the world functions.” So, what do you think about this? Is this genius or is this manipulative?
