Wendy’s clarifies dynamic pricing system after online backlash

Feb 28

Simone Del Rosario Business Correspondent

By Simone Del Rosario (Business Correspondent), Evan Hummel (Producer), Zachary Hill (Video Editor)

Bias Distribution Powered by Ground News™

Wendy’s will not raise prices at peak times, according to the company. The announcement comes after the chain said CEO Kirk Tanner’s comments were “misconstrued” during the week of Feb. 25 by several “media reports,” according to Reuters.

Wendy’s said the dynamic pricing system will still be implemented but only to provide discounts to customers during slower parts of the day.

Download the SAN app today to stay up-to-date with Unbiased. Straight Facts™.

Point phone camera here

The fast-food chain responded to reports that it would hike prices during busy times.

“We have no plans to do that,” Wendy’s said in a statement to Reuters, adding that it “would not raise prices when our customers are visiting us most.”

The company said the move to add digital menu boards to certain stores would allow it to offer discounts more easily. Wendy’s claims Tanner’s comments were “misconstrued” in media reports, “as an intent to raise prices when demand is the highest.”

The initial information on Wendy’s dynamic pricing structure never mentioned only lowering prices, and enhanced media coverage caused online backlash.

Reuters reported that Wendy’s is currently concerned about weaker demand hurting sales. According to Placer.ai data, visits to stores have declined over the past three months.

Tags: Artificial Intelligence, food, Wendy’s

[SIMONE DEL ROSARIO]

REMEMBER WHEN WE TOLD YOU WENDY’S IS IMPLEMENTING A DYNAMIC PRICE SYSTEM– AKA– SURGE PRICING – WHICH FLUCTUATES DEPENDING ON THINGS LIKE DEMAND, TIME OF DAY AND WEATHER?

YEAH, THE COMPANY’S ALREADY CLARIFYING THOSE CONTROVERSIAL COMMENTS.

WENDY’S SAYS PRICES WILL STILL CHANGE, BUT ONLY TO PROVIDE DISCOUNTS DURING SLOWER PARTS OF THE DAY.

WENDY’S IS RESPONDING TO REPORTS THAT THEY WOULD HIKE PRICES DURING BUSY TIMES.

THEY SAID IN A STATEMENT,

“WE HAVE NO PLANS TO DO THAT AND WOULD NOT RAISE PRICES WHEN OUR CUSTOMERS ARE VISITING THE MOST.”

THE COMPANY SAYS THE MOVE TO ADD DIGITAL MENU BOARDS TO CERTAIN STORES WOULD ALLOW THEM TO OFFER DISCOUNTS MORE EASILY.

WENDY’S CLAIMS THE IDEA HAS BEEN “MISCONSTRUED” IN MEDIA REPORTS, “AS AN INTENT TO RAISE PRICES WHEN DEMAND IS THE HIGHEST.”

THE INITIAL INFORMATION ON WENDY’S DYNAMIC PRICING STRUCTURE NEVER MENTIONED ONLY LOWERING PRICES. AND ENHANCED MEDIA COVERAGE THIS WEEK CAUSED SOME ONLINE BACKLASH AGAINST WENDY’S.

WENDY’S IS REPORTEDLY CONCERNED ABOUT WEAKER DEMAND HURTING SALES.

PLACERAI DATA REVEALS VISITS TO STORES HAVE DECLINED IN RECENT MONTHS.