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Effective URL: https://www.goodmorningamerica.com/food/story/wendys-announces-uber-surge-pricing-model-107584986
Submission: On February 28 via api from US — Scanned from DE
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Shop work-ready trousers, trenches & blazers! * Video * Shop * Culture * Family * Wellness * Food * Living * Style * Travel * News * Book Club * GMA3: WYNTK * * * * * * Privacy Policy * Your US State Privacy Rights * Children's Online Privacy Policy * Interest-Based Ads * Terms of Use * Do Not Sell My Info * Contact Us * © 2024 ABC News Newsletter Search * Food WENDY'S ANNOUNCES UBER-LIKE SURGE PRICING MODEL 2:39 Wendy’s unveils dynamic pricing model plan Wendy’s unveils dynamic pricing model plan David Paul Morris/Bloomberg via Getty Images, FILE ByGMA Team February 27, 2024, 2:17 pm * * * * * Wendy’s announced it will launch new menu prices that will fluctuate depending on the time of day. The country’s second-largest burger chain, which has 6,000 restaurant locations, said the change will begin next year. Signage is displayed outside a Wendys Co. restaurant in El Sobrante, Calif., May 6, 2020. David Paul Morris/Bloomberg via Getty Images, FILE Customers could pay $1 more for a sandwich like the Baconator during the lunch rush, for example. “Historically, companies just set one price that was constant across time. Pricing algorithms allow companies to change prices throughout the day or perhaps even throughout an hour,” Zach Brown, a professor of economics at the University of Michigan, told “Good Morning America.” MORE: BY THE NUMBERS: SURGE PRICING Wendy’s CEO Kirk Tanner said the company will spend $20 million on high-tech digital menu boards that can update prices in real time, similar to surge pricing strategies adopted by rideshare companies like Uber and Lyft, airlines and hotels. “During the busy times, they can obviously increase profits then,” Brown said. “And also, some consumers will want to shift to the less busy times when demand is lower and prices are lower.” MORE: WENDY'S DEBUTS NEW CINNABON INNOVATION ON THE BREAKFAST MENU Wendy’s is already receiving a frosty reaction to the price change announcement with one user on X, formerly known as Twitter, writing, “Surge pricing is just Price Gouging by any other name.” Wendy’s told ABC News in a statement that its dynamic menu pricing can “be competitive and flexible with pricing, motivate customers to visit and provide them with the food they love at a great value. We will test a number of features that we think will provide an enhanced customer and crew experience.” Some experts say customers could see more menu pricing changes ahead at other fast food chains, including McDonald’s and Burger King, especially if Wendy’s sees a boost in its bottom line after implementing dynamic pricing. RELATED TOPICS * Food UP NEXT IN FOOD— 2 SWEET AND UNIQUE PANCAKE RECIPES TO ADD FLAVOR TO NATIONAL PANCAKE DAY February 28, 2024 WENDY'S ANNOUNCES UBER-LIKE SURGE PRICING MODEL February 27, 2024 TIFFY CHEN SHARES HER GRANDMOTHER'S TAIWANESE STIR-FRY NOODLES RECIPE February 27, 2024 KITCHEN SCRAP KIMCHI AND OTHER LOW-WASTE RECIPES FROM THE JAMES BEARD FOUNDATION February 22, 2024 SHOP EDITORS PICKS ABC will receive a commission for purchases made through these links. REI STANLEY QUENCHER H2.0 FLOWSTATE TUMBLER - 40 FL. From REI $45 Shop Now 8 Saatva SOLAIRE ADJUSTABLE FIRMNESS MATTRESS (QUEEN) From Saatva $4095 $4495 Shop Now Factor FACTOR From Factor $10.99 Shop Now SPONSORED CONTENT BY TABOOLA Sponsored Content by Taboola Nervicil Sie nehmen B12 ein, Neuropathische Symptome zu bekämpfen? Versuchen Sie stattdessen diesNervicil| SponsoredSponsored Undo Audicil Tinnitus-Entdeckung macht Ärzte sprachlos (versuchen Sie es heute Abend)Audicil| SponsoredSponsored Undo healthworldde.org Ärzte verblüfft: Tausende Deutsche nehmen damit ab (2 Stück vor dem Schlafengehen)healthworldde.org| SponsoredSponsored Undo Deals & Steals on Oprah's Favorite Things Undo 'GMA' Deals & Steals on your favorite brands Undo 'GMA' Deals and Steals on kitchen essentials Undo Nutravia Darmexperte bittet: "Werfen Sie Ihr Müsli weg, nehmen Sie stattdessen jeden Morgen das"Nutravia| SponsoredSponsored Undo Checkfox Eilmeldung aus Bayern: Staat ändert Solar-VorgabenCheckfox| SponsoredSponsored Undo Gesund Entgiften #1 Hausmittel für eine saubere Leber und einen flachen BauchGesund Entgiften| SponsoredSponsored Undo The latest lifestyle and entertainment news and inspiration for how to live your best life - all from Good Morning America. * * * * * * Contests * Terms of Use * Privacy Policy * Do Not Sell My Info * Children’s Online Privacy Policy * Advertise with us * Your US State Privacy Rights * Interest-Based Ads * About Nielsen Measurement * Press * Feedback * ABC News * ABC * All Videos * All Topics * Sitemap -------------------------------------------------------------------------------- © 2024 ABC News