https://www.foodandwine.com/wendys-introducing-dynamic-pricing-8600506You soon might want to get strategic about the exact time you visit Wendy’s.
In early February, Kirk Tanner, the new CEO and president of Wendy’s, shared with analysts his various plans to increase company profits, including investing in digital menu boards that will have the capacity to display dynamic pricing that fluctuates throughout the day by 2025.
“We are planning to invest approximately $20 million to roll out digital menu boards to all U.S. company-operated restaurants by the end of 2025,” Tanner said, according to Nation’s Restaurant News. Tanner added that Wendy’s will also invest an additional $10 million over two years to enhance its global system, help upsell other menu items, and improve order accuracy. But that’s not all.
Tanner stated, “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.”
A spokesperson for Wendy's confirmed the news with Food & Wine, stating the company is focused on providing "great-tasting" food and is "making a significant investment" to grow its digital business, including rolling out digital menu boards in some U.S. restaurants. "Beginning as early as 2025, we will begin testing a variety of enhanced features on these digital menuboards like dynamic pricing, different offerings in certain parts of the day, AI-enabled menu changes and suggestive selling based on factors such as weather. Dynamic pricing can allow Wendy's to 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."
