Despite the misunderstanding, Wendy's is planning to make some technical changes regarding prices. The company is investing in digital menu boards for its US locations, which will make changing prices easier. Additionally, Wendy's is also exploring the use of AI to suggest menu changes on these digital boards based on external factors like weather.
Key takeaways:
- Wendy's CEO Kirk Tanner mentioned the phrase "dynamic pricing" during an earnings call, sparking rumors that the fast-food chain would implement surge pricing, or charging more for food at certain times of day.
- However, Wendy's clarified that it will not implement surge pricing, but is exploring dynamic pricing, which refers to prices that go up and down depending on demand.
- The fast-food chain is investing in digital menu boards for its locations in the US, which will allow for easier price changes and the ability to offer discounts and value offers more easily, particularly during slower times of day.
- Wendy's is also implementing artificial intelligence in some restaurant locations, with the aim of improving speed and accuracy, and to suggest menu changes on digital boards due to external factors such as the weather.