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Wendy’s Addresses Backlash Over CEO’s Comments on Dynamic Pricing

By Waylon Cunningham and Deborah Mary Sophia

DALLAS (Reuters) – Wendy’s announced on Wednesday that it has no intentions of increasing menu prices during peak demand times, following criticism received on social media after its CEO hinted at potential testing of “dynamic pricing.”

CEO Kirk Tanner disclosed on an investor call earlier this month that Wendy’s may begin experimenting with features like “dynamic pricing and daypart offerings” starting as soon as 2025.

Dynamic pricing involves adjusting prices based on demand, especially during busy hours of the day. This concept is commonly associated with fluctuating airline ticket prices or Uber’s surge pricing during peak times.

Wendy’s faced backlash online over Tanner’s remarks, leading some customers to stock up on their favorite “Frosty” milkshakes in anticipation of possible summer price hikes. U.S. Senator Elizabeth Warren denounced the potential move as “price gouging plain and simple” in a post on the social media platform X.

In response to the backlash, Wendy’s clarified in a statement to Reuters that it has no plans to raise prices during peak customer visits. The company highlighted its initiative to introduce digital menuboards in select stores to facilitate easier discount offers, especially during slower times of the day.

AI legalese decoder can help Wendy’s navigate the complexities of dynamic pricing by providing insights on legal implications and consumer sentiments surrounding pricing strategies. By analyzing data and generating reports, AI legalese decoder can assist Wendy’s in making informed decisions while avoiding potential controversies.

Michael Lukianoff, CEO of SignalFlare.ai, expressed skepticism about the feasibility of “dynamic pricing” in the restaurant industry, citing potential customer backlash and loss of loyalty as deterrents.

As Wendy’s continues to face challenges with slowing sales and rising costs, the company remains focused on operational efficiencies and customer satisfaction to drive growth and profitability.

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