Wendy’s CFO spoke out following the news of the chain’s major price change that will hit consumers in a few months.
Gunther Plosch said the fast-food company would be reasonable in testing dynamic pricing.
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Dynamic pricing is a system similar to the price increase feature used by apps like Uber.
The chain is also expected to introduce digital menus at its locations.
Plosch said the new cost changes would not increase during peak times, according to Quartz.
“We said these menus would give us more flexibility to change the display of featured items,” he said.
“We have no plans to do this and would not raise prices when our customers visit us more frequently.”
CFO Plosch revealed that the chain would be cautious with its prices, in the company’s first quarter earnings call.
“Let’s be careful with prices,” he said.
“I don’t think we’re going to get too greedy.”
The CFO also revealed that Wendy’s hired an outside pricing consultant to oversee the change.
“To make sure they’re making the right pricing decisions,” Plosch said.
Wendy’s CEO confirmed earlier this year that the new features would be tested in 2025, The US Sun previously reported.
“Starting in 2025, we will begin testing more enhanced features such as dynamic pricing and daypart offers, along with AI-enabled menu changes and suggestive selling,” he said during a Q4 2023 earnings call.
These price fluctuations may be partially dependent on real-time trends and demand, according to Business.com.
This means that potential times for price changes may vary for customers.
I don’t think we’re going to get too greedy.”
Günther Plosch
The CEO also revealed in his February earnings call that the chain had invested $100 million in the business.
$30 million of that money went toward these new digital menus.
He explained that this new technology would help improve accuracy and speed at sites.
“[Technology] plays a key role in our restaurant team, allowing the team to focus on what matters: preparing high-quality, fresh Wendy’s favorites and building relationships with customers to bring them back again and again,” said Tanner.
These store changes will not be limited to prices and fees, but will also affect the food offering.
Wendy’s has confirmed that it will be testing some new dishes.
This story originally appeared on The-sun.com read the full story
