Technology

Juicer cuts dynamic pricing strategy

Photo: Adobe Stock

August 26, 2024

Juicer, a restaurant revenue management company that helps guide menu strategy, is cutting its dynamic pricing platform for delivery to shift its focus toward broader revenue management solutions within the restaurant industry, said Ashwin Kamlani, Juicer's co-founder & CEO

"The restaurant industry headlines are littered with bankruptcies and missed earnings," he said in a company press release. "The desperation of restaurants to steal market share has created a value war and Juicer Compete is the best weapon on the market for restaurant brands and their franchisees to protect themselves."

Dynamic pricing caught consumer attention earlier this year when Wendy's announced it was using digital menu boards to change featured menu items and pricing. Not understanding what the term truly meant, consumers assumed that Wendy's was going to raise prices during peak times. They complained on social media until theburger joint reversed its strategy.

"What we have learned is that restaurants can increase revenue by implementing a delivery-specific pricing strategy, without exception," Kamlani said. "However, when many groups in our industry are facing an existential threat, they are prioritizing solutions that can help more broadly. Juicer Compete is the perfect solution for this challenging time while we work with a coalition of companies to build the industry's revenue management solution of the future."

Kamlani will embark on a four-month road trip across the U.S., traveling in a pink RV adorned with a unicorn. During this journey, he has appointments to visit restaurant companies nationwide to gain insights into their pricing strategies. Select stops include Atlanta, Dallas, Austin, San Antonio, Minneapolis, Detroit, Ann-Arbor, New York City, Las Vegas and Miami. He will also attend the Fast Casual Executive Summit, Oct. 13-15 in Denver.

"I'll be documenting my journey and findings on LinkedIn and other social media channels as I learn what kind of data restaurants need to enhance revenue," Kamlani said. "I'm also bringing my youngest daughter, Taj, with me to give her a firsthand look at what it takes to build a business."