Let me explain. There seems to be a restaurant here in Manhattan, opening April 1, that is letting the customers choose the prices…sort of. The menu prices are set, but depending on popularity, like a stock, they go up and down.
So, if the burgers are at high demand, the price goes up in $0.25 increments. So you either buy a higher priced burger, or go for a menu item that is less ordered because it could be down $2 in cost.
The Exchange Bar & Grill admits what they are doing is a gimmick but they seem to love the NYSE theme. They even have red ticker tape flashing the menu prices as stock items. (On a side note, speaking from the PR in me, I do hope to see this theme play through in their marketing and communication efforts. I see a cool Facebook page and fun viral videos.)
I am finding that New York City restaurants can’t just rely on good food. For these owners, they are relying on supply and demand and this economics lesson is getting a decent amount of press for not even being open yet.
In my opinion, if I came in and paid $4 for a drink then came in again and found out I had to pay $8 for the same dink? To me it’s cute, and fun in a way, but I think it would piss me off. It doesn’t sound like a place you would turn to as your go-to dinner spot, but could be fun for those tourists that get a kick out of that sort of thing.
What are your thoughts? Does this interest you enough to try it out?
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