We all know flexibility allows you take advantage of great deals from cheap rooms at five star hotels to budget flights to Barbados. So, why not swap Saturday for Monday and get a great deal in one of London’s top restaurants.
Dynamic pricing, common practise amongst airlines and hotels comes for the very first time to the restaurant industry. London’s famous Sugar Reef restaurant and bar, in the heart of London’s Piccadilly, is set to revolutionise the way we dine with their new pricing policy.
Based on consumer demand and restaurant supply, Sugar Reef now offers ‘eating out the way you want’. With no prices on the menu, Dynamic Dining means you pay according to the day. The earlier in the week you eat, the less you splash out – no hidden costs, no surprises and no set promotional set menus.
For example, dine from the full restaurant menu on a Monday and pay £6 for a main course, £8 on a Wednesday and so on and so forth, with the price rising to its true value of £12 on a Saturday night.
Sugar Reef recognises that consumers are becoming increasingly savvy and change their buying behaviour to accommodate the new realities of dynamic pricing. Various studies have shown that varying prices in response to changing market conditions can improve competitive advantage. Sugar Reef is pioneering the way and other eateries may well follow suit, changing when, where and how often we eat out – will Monday nights become the new Saturday night?
Jon Yantin, marketing director of Urbium Bars, owners of Sugar Reef comments:
“We are confident that this proven pricing policy will herald a change in consumer dining habits and that cheaper prices, in accordance with market conditions, will be welcomed by diners. We also anticipate others following suit in what has become an increasingly competitive market.”
Sugar Reef and dynamic pricing – a ground breaking approach to restaurant dining set to shake up the industry.
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Issued on behalf of:
1 October 2004
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