Wendy's Dynamic Pricing Plan Faces Pushback Despite Growing Acceptance in Other Industries
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Consumers accept dynamic pricing in some industries like airlines and hotels, but backlash to Wendy's plans shows a limit.
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Dynamic pricing continuously adjusts prices based on factors like demand, while surge pricing increases prices during peak demand.
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Industries using dynamic pricing include airlines, hotels, concerts, sports, and utilities. Restaurants rarely use it.
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Retailers like Amazon fluctuate prices frequently based on competitive pressures rather than time of day.
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While unfamiliar, dynamic pricing models may become more common to deal with inflation and labor shortages. Approaches highlighting discounts rather than price hikes can ease pushback.