Current:Home > Contact-usBurger chain Wendy’s looking to test surge pricing at restaurants as early as next year-Angel Dreamer Wealth Society D1 Reviews & Insights
Burger chain Wendy’s looking to test surge pricing at restaurants as early as next year
View Date:2024-12-24 07:43:51
Wendy’s is looking to test having the prices of its menu items fluctuate throughout the day based on demand, implementing a strategy that has already taken hold with ride-sharing companies and ticket sellers.
During a conference call earlier this month, Wendy’s CEO Kirk Tanner said that the Dublin, Ohio-based burger chain will start testing dynamic pricing, also known as surge pricing, as early as next year.
“Beginning as early as 2025, we will begin testing more enhanced features like dynamic pricing and daypart offerings, along with AI-enabled menu changes and suggestive selling,” he said. “As we continue to show the benefit of this technology in our company-operated restaurants, franchisee interest in digital menu boards should increase, further supporting sales and profit growth across the system.”
Wendy’s Co. plans to invest about $20 million to launch digital menu boards at all of its U.S. company-run restaurants by the end of 2025. It also plans to invest approximately $10 million over the next two years to support digital menu enhancements globally.
Tanner, a longtime PepsiCo executive, became Wendy’s CEO earlier this month. He succeeded Todd Penegor, who had served as Wendy’s president and CEO since 2016.
Last year, Penegor announced a restructuring intended to speed decision-making and invest more in new restaurant development, particularly overseas. The chain and its franchisees operate about 7,000 restaurants worldwide.
Shares of Wendy’s fell slightly in Tuesday morning trading.
veryGood! (37)
Related
- Princess Kate makes rare public appearance after completing cancer chemo
- Healthy condiments? Yes, there is such a thing. Eight dietitian-recommended sauces.
- Sister Wives Star Garrison Brown’s Sister Details His Mental Health Struggles
- The Best Plus Size Swimwear That'll Make You Feel Cute & Confident
- Kirk Herbstreit berates LSU fans throwing trash vs Alabama: 'Enough is enough, clowns'
- The Daily Money: Has the Great Resignation fizzled out?
- Sheriff’s deputy shot and wounded in southern Kentucky
- 4 things to know from Elon Musk’s interview with Don Lemon
- Inflation ticked up in October, CPI report shows. What happens next with interest rates?
- ‘Access Hollywood’ tape won’t be played at Donald Trump’s hush-money criminal trial, judge rules
Ranking
- Utah AD Mark Harlan rips officials following loss to BYU, claims game was 'stolen from us'
- A North Dakota woman is sentenced to life in prison without parole for 2022 killing of ex-boyfriend
- Jeff Lynne's ELO announce final tour: How to get tickets to Over and Out
- Ohio GOP congressional primaries feature double votes and numerous candidates
- Catholic bishops urged to boldly share church teachings — even unpopular ones
- New Jersey’s unique primary ballot design seems to face skepticism from judge in lawsuit
- Psst, the Best Vacuum Cleaners are on Sale at Walmart Right Now: Bissell, Dyson, Shark & More
- Petrochemicals Are Killing Us, a New Report Warns in the New England Journal of Medicine
Recommendation
-
Detroit-area police win appeal over liability in death of woman in custody
-
Horoscopes Today, March 17, 2024
-
Student at Alabama A&M University injured in shooting
-
Sunken 18th century British warship in Florida identified as the lost 'HMS Tyger'
-
More human remains from Philadelphia’s 1985 MOVE bombing have been found at a museum
-
Chinese billionaire pleads guilty to straw donor scheme in New York and Rhode Island
-
Lisa Vanderpump Breaks Silence on Jax Taylor and Brittany Cartwright's Breakup
-
It's 2024 and I'm sick of silly TV shows about politics.