AP
Updated Wednesday, February 28, 2024-12:33
The Wendy's
restaurant chain
has announced that it will carry out a test in which
the prices of its products will vary throughout the day based on demand
.
A strategy that already works among app-based taxi companies - such as Uber or Cabify - and in the sale of tickets for events.
Wendy's CEO
Kirk Tanner
said a few weeks ago that the Dublin, Ohio-based chain will begin testing
dynamic pricing
next year.
"Starting in 2025, we will begin testing more enhanced features, such as
dynamic pricing and timed offers, as well as AI menu changes
and suggested sales," he said.
"As we continue to show the benefits of this technology in our company-operated restaurants, franchisee interest in digital menus should increase,
driving sales and profit growth throughout the system
," he added.
The chain and its franchisees operate around
7,000 branches worldwide
.
Wendy's is the
third largest hamburger chain in the United States
, behind McDonald's and Burger King.
Wendy's stock prices
fell
slightly in the morning session on Tuesday following the announcement.
Millionaire investment in digital menus
Wendy's Co.
plans to invest around 20 million dollars
(18.5 million euros) to launch digital menus in all the restaurants the company operates in the United States by the end of 2025. It also plans an investment of approximately 10 million dollars (9.2 million euros) over the next two years to drive improvements in digital menus worldwide.
Tanner, a PepsiCo executive for several years, became CEO of Wendy's this February.
He thus succeeded Todd Penegor, who was president and CEO of the chain since 2016.
Last year, Penegor announced a restructuring aimed at speeding up decision-making and increasing investment in the development of new restaurants, particularly abroad.