Wendy’s says it has no plans to raise prices during busiest times
Wendy’s says that it has no plans to increase prices during the busiest times at its restaurants.
The burger chain clarified its stance on how it will approach pricing after media picked up on comments by CEO Kirk Tanner that the company would test features like dynamic pricing at restaurants.
Dynamic pricing typically means that prices rise or fall in response to demand. A classic example of this is airline tickets. Companies like Uber have used surge pricing, which is a kind of dynamic pricing, to moderate use by customers during the busiest days of the year and to entice more drivers to hit the road when cars are in short supply during the day.
“Wendy’s will not implement surge pricing, which is the practice of raising prices when demand is highest. We didn’t use that phrase, nor do we plan to implement that practice,” the company said in an email to The Associated Press on Wednesday.
The company said Wednesday, after the story began to circulate this week, that any features it decides to test in the future “would be designed to benefit our customers and restaurant crew members.”
Wendy’s Co. plans to invest about $20 million to launch digital menu boards at all of its U.S. company-run restaurants by the end of 2025. It also plans to invest approximately $10 million over the next two years to support digital menu enhancements globally.
