News analysis

Dynamic pricing the way forward for F&B?

Dynamic pricing could be seen as an extension of existing promotions such as happy-hour deals.
Dynamic pricing could be seen as an extension of existing promotions such as happy-hour deals.ST FILE PHOTO

From prix fixe to market price and happy-hour promotions, pricing strategies in the food and beverage (F&B) industry have long sought to maximise revenue by filling seats and enticing customers to loosen their purse strings.

Lately, a new catchphrase has begun to creep into the restaurant world: dynamic pricing.

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A version of this article appeared in the print edition of The Straits Times on May 21, 2019, with the headline 'Dynamic pricing the way forward for F&B?'. Print Edition | Subscribe