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New York restaurant has an interesting gimmick

New York Bar to Set Menu Prices Like Stocks

New Restaurant Where Prices For Food and Drink Will Fluctuate Like Stocks

NEW YORK (Reuters) – What’s the value of a pint of beer? Let the market decide, says a new restaurant in Manhattan where prices for food and beverages will fluctuate like stock prices in increments according to demand.

The Exchange Bar & Grill, set amid the bustling shops and pubs of the Grammercy Park neighborhood, is replete with a ticker tape flashing menu prices in red lettering as demand forces them to fluctuate.

Customers can move prices for all beverages and bar snacks such as hot wings ($7 for 6 pieces) or fried calamari ($9). The prices will fluctuate in $.25 cent increments, but will most likely plateau at a $2 change in either direction.

A glass of Guinness starts at $6 but could be pushed to a high of $8 or a low of $4, depending on popularity.

Read the rest of the article here:

http://abcnews.go.com/Travel/wireStory?id=10190154

Interesting gimmick. It would be interesting to see how it affects food costs. It will also be interesting how long they’re able to maintain such a system. Seems a bit unwieldy to me, but what do I know?

Of course, this doesn’t seem to be quite a traditional “supply and demand” situation where the prices go up as the supply dwindles. Doesn’t seem to be the case here. It seems to only be a “demand” system. In fact, a classic supply and demand system would work against a restaurant since you don’t want prices to rise as you exhaust a product. In most cases, it’s better to run out of something than to carry it over, although, in the case of alcohol, you might be able to exploit the diesire to grab a beer before it runs out. You’d need some sort of tote board though. In the case of, say, a daily special, you want to run it out, not have a couple left over that you can’t use the next day. Perhaps you could employ the opposite tactic – as you get down to the final specials, the prices drop, so that you can blow them out.

Anyway, as I said, an interesting gimmick that should be of interest in Manhattan, the home of the world’s largest market. A good example of tailoring a concept to the immediate environment.

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One response to “New York restaurant has an interesting gimmick

  1. Pingback: 10 Innovative Page Views Constructing Concepts | Internet Mktg

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