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USA Today
6 days ago
- Business
- USA Today
What does 'MKT' mean on a menu? These customers learn the hard way in viral Tiktok
Do you know what MKT means? Not knowing what those initials mean could end up costing you, especially as beef prices are on the rise and tariffs are impacting prices of food, groceries and goods. Like it did for Aribella Menold. "POV: you didn't know what 'mkt' meant on steak menu and now (you're) paying for it," the text on the TikTok video from Menold reads. In a video on Instagram with 21.8 million views and the same video on Tiktok with 3.6 million views, you can see the reaction of three young women when the bill came. Their order had included two steaks, which each cost $52, a kid's grilled cheese sandwich for $10 and a baby kale Caesar salad for $28. A credit card surcharge of 3% was also added. With sales tax, the bill totaled $159.14. Menold, 20, told USA TODAY she and two young relatives were out to dinner at a separate table from other family members while on vacation in North Carolina. At most, she said she thought the MKT price steak would be "around 20 bucks. I'm pretty sure we just read the menu wrong but come from a big family so we never go out to fancy restaurants (too) often." The popular video sparked a lot of debate in the comments about whether the price for the meal was normal or expensive and whose responsibility it is to know how much something costs if the menu price isn't listed. So, is MKT just another way to say "expensive"? Here's what you need to know before you order: What is MKT or MP price? MKT stands for market price, and MKT or MP are often a standard way to express that on a food menu, said David Ortega, a food economist and professor at Michigan State University. "It signals that the cost of the item changes regularly based on current supply and demand conditions, rather than being listed as a fixed dollar amount. It's most often used for items whose wholesale prices fluctuate frequently, like fresh seafood, premium cuts of meat, or seasonal ingredients," Ortega told USA TODAY. "This approach gives restaurants flexibility for items whose costs can vary. Instead of constantly reprinting menus, they list the item as market price and adjust based on what they paid to source it. This means the final price consumers pay may change from one visit to the next, depending on what is happening in the market for that product." Ortega said he has also seen "seasonal pricing," on menus, especially for items like oysters or lobster that tend to be more seasonal depending on the location. How or why does the MKT price change for a particular food? Market prices fluctuate due to supply, demand, seasonality, and other factors, especially for items whose wholesale costs can vary daily, like seafood or steak, said Katie Thomas, who leads the Kearney Consumer Institute, an internal think tank at global management consulting firm Kearney. "Restaurants use MKT pricing to adjust with the real-time cost and maintain profitability," Thomas told USA TODAY. Prices can change due to shifts in supply and demand, said Ortega. "For example, ocean temperature fluctuations can reduce lobster availability, pushing prices up. For beef, the impact of drought and herd reductions has been tightening supply, driving up costs. Increased demand for certain items, like lobster in the summer, can also drive up prices," he said. Are tariffs and other economic pressures causing MKT prices to be even more volatile? While tariffs are affecting prices for a variety of products, tariffs and global economic pressures have increased food price volatility, said Thomas. "New tariffs, supply chain disruptions, labor costs, and even climate-related factors all contribute to unpredictable swings in prices for ingredients, which make menu items with MKT pricing more volatile than ever," she said. The higher tariffs on imported food or ingredients can raise the cost for restaurants, said Ortega. Other challenges like labor shortages, rising input costs, and extreme weather can also affect prices, he said. The ease of the supply chain getting food products to the restaurant also affects pricing, said Phil Kafarakis, CEO of IFMA, The Food Away From Home Association. "Many restaurants are starting to manage their food costs by using 'market price' on their menu for their most expensive and unique items," Kafarakis told USA TODAY. "Also, market price can be the cause of not having an item or being out of stock on an item, so it is a very effective technique to manage the variability in food costs on a daily basis." What should you do when you see MKT? Consumers should always ask for the current price before ordering a MKT item, said Thomas. "While the practice allows restaurants to offer fresh, high-quality dishes, diners should not assume these dishes are affordable. Sometimes they are significantly higher than the average menu item." It is a completely normal and fair question to ask your server if you see MKT or MP on the menu, said Ortega. "That way, there are no surprises when you get the bill. In some cases, the cost can exceed expectations, so it's important to ask," he said. "Some servers may offer that information upfront, but that's not always the case." Ortega also adds: "If something is listed as 'market price', it doesn't necessarily mean it's overpriced. In some cases, when there is plenty of supply, you might actually get a deal." Are beef prices the new eggs?: Beef prices at all-time high: Why summer grilling costs a lot more this year What foods or other menu items are most likely to be listed as MKT price? Dishes most likely to be listed as MKT or MP are those with the most variable and seasonal ingredient costs, such as fresh seafood (like lobster, oysters, or fish), certain steaks, or specialty produce, said Thomas. These items depend on real-time market rates for freshness and availability, she said. Additionally, Ortega said market pricing can be on items with highly variable sourcing costs or limited supply, such as seafood, premium meats (like dry-aged or high-end steaks), specialty imports (like truffles and caviar), and in some cases, seasonal produce. Chef's specials or dishes built around highly seasonal ingredients may also be listed as market price, he said. Specialty vegetables and greens, "think truffles, both white and black," are also often listed as market price, said Kafarakis. "Traditionally, when in a high-end restaurant, there is a high likelihood you will see market price and perhaps a tasting menu of items that have been bundled for one meal cost," he said. Menold's advice for others? "Pay attention to details." She will be asking the MKT price in the future, "considering the fact I learned the hard way, I know what it means now." Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at blinfisher@ or follow her on X, Facebook or Instagram @blinfisher and @ on Bluesky. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here.
New York Post
08-07-2025
- Business
- New York Post
Gen Z diners tripped up by common menu pricing abbreviation — and wind up slapped with $160 bill
Talk about a pricey 'POV.' Three Gen Z sisters got a not-so-tasty surprise when they ordered steak at a coastal North Carolina restaurant — only to realize too late what 'MKT' on the menu actually meant. Spoiler: it doesn't mean 'Marked down' — it means 'market price.' Advertisement In a TikTok video that's racked up more than 19 million views, Aribella Menold, 20, and her siblings shared their shock after ordering dinner at Moonrakers, a white-tablecloth waterfront joint in Beaufort. 'POV: You didn't know what 'mkt' meant on the steak menu and now you're paying for it,' the caption read as the camera panned to their stunned expressions and the $159.14 bill. The sisters had unknowingly racked up a hefty tab that included two 12 oz New York strip steaks for $52 each, a $28 baby kale Caesar salad with an extra $11 for grilled chicken, a $10 kid's grilled cheese and a $3 Sprite — proving once and for all that even salads can be a financial ambush. Advertisement Their subtotal came to $145 with a 3% credit card surcharge that added an additional $4.35 and the 6.75% sales tax tacked on another $9.79. 'We thought the price was going to be like $20-$30,' Menold told Newsweek. Turns out, 'MKT' is restaurant shorthand for 'market price,' a cryptic code used for items that fluctuate based on availability, seasonality and ingredient cost — usually seafood or steak. In other words: if you have to ask, you probably can't afford it. Advertisement Menold's video, originally posted to Instagram and then to TikTok, blew up overnight. Luckily for the sisters, their wallets were spared the full damage. 'Our grandpa ended up paying for it, which was so sweet of him,' Menold explained to the outlet. The sisters unknowingly feasted their way to a fat bill totaling $160. Aribella_Menold/TikTok But the internet had thoughts — and no shortage of them. Advertisement '$160 is not bad if you divide the bill by three, each person pays 53 dollars which is good,' one commenter shrugged. Another gasped, 'That's like 53-55$ each girl is spending on dinner. That's wild tbh.' Others zeroed in on the leafy green culprit: 'Okay but a salad being 28 dollar [s] is diabolical.' Still, some blamed the staff for not stepping in: 'Honestly shame on your server for not informing you of the price when it's clearly not listed. One complaint and all of my old bosses would have ripped me a new one for not informing the guest and probably make me pay out of pocket for it.' A separate TikTok user offered this sage advice: 'Unless you're rich, don't buy items off a menu if they don't have a price.' Lesson learned: when dining out, always ask the price — or bring your grandpa. As The Post previously reported, a whistleblowing ex-staffer at California's now-closed Automat claimed those feel-good 'living wage' fees slapped on your bill are nothing but a tip-toeing façade. Advertisement 'If you see a restaurant charging a 'cost of living,' 'equal pay' or 'mandatory service fee' like the 20% this restaurant did, be suspicious,' Jordan Smith explained in an Instagram story post shared by Eater San Francisco. 'It's possible the back-of-house teams aren't seeing much of that money,' he continued regarding the non-server crew. Meanwhile, a ticked-off diner went viral last month after posting a receipt showing a mandatory 'living wage fee' — and the internet lost its appetite. Turns out 'MKT' is just fancy menu-speak for 'market price' — a slippery little code used for steaks, seafood and other dishes that change with the tides and the supply chain. nicoletaionescu – Advertisement Tipping rules may differ coast to coast, but here in NYC, the law's pretty clear: 'Restaurants cannot charge a surcharge or other fee in addition to listed food or beverage prices,' per the city's Consumer and Worker Protection rules. However, they can 'charge a bona fide service charge — but only if the charge is conspicuously disclosed to consumers before food is ordered.'
Newsweek
07-07-2025
- Business
- Newsweek
Gen Z Girls Get Restaurant Check—Realize Too Late What 'Mkt' Price Means
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. When 20-year-old Aribella Menold and her family went for a meal at a North Carolina restaurant, they got a shock when they called for the check. In a video with 19 million views, the Gen Z girls shared how they had ordered from the menu without understanding the pricing structure, leading to a bill they weren't prepared for of $154.14. "POV: You didn't know what 'mkt' meant on the steak menu and now you're paying for it," the text overlay said. "We thought the price was going to be like $20-$30," Menold told Newsweek. In the video it is clear the girls were worried about the bill, with shocked faces throughout. Newsweek reached out to the restaurant via email for comment. Pictures from the video with 14 million views of the moment the girls were shocked by the bill. Pictures from the video with 14 million views of the moment the girls were shocked by the bill. @bellebelle_menold/Instagram What Does MKT Mean on a Menu? "MKT" is restaurant shorthand for "market price," often placed next to items like seafood or steak instead of a number. This means that the kitchen prices the item day-by-day according to the current wholesale cost of the item. Read more Server can't believe what Gen Z diners leave on check instead of tip Server can't believe what Gen Z diners leave on check instead of tip For example, prime steaks swing in cost with supply, season and grade, meaning that the cost can change by the day. Usually though, asking the server when ordering will give you an idea of the price. As the video gained more and more attention on Instagram, people were divided in the comments. Viewer @aidoniouss said: "$160 for three people? That's a pretty good deal lmoa." While @laetitiablt wrote: "People saying $50 a steak is normal... are you ok? In a very expensive restaurant sure, but no, it is NOT normal." Generally, menu prices for steaks vary depending on the location. Casual chains can charge as low as $13-18 for a steak, while fine-dining chains average closer to $54 for an 8-20 oz cut. "I first posted on Instagram and then on TikTok," Menold said. "I was definitely surprised how well the video did giving the fact that I filmed and posted the video with no effort, just for fun." In the end, the girls were lucky enough not to have to pay for the bill. "Our grandpa ended up paying for it which was so sweet of him," Menold explained. This isn't the first time someone was left stunned by a big restaurant bill. Earlier this year a dad shared online how he was stunned by a Disneyland breakfast bill. He agreed to take his kids for a "Princess Breakfast" but wasn't prepared for the bill at the Disneyland Resort in California. In the X post, he revealed the $937.65 bill, with the total including a $150 tip. Meanwhile another man was surprised when he looked at a restaurant receipt that caused quite a shock. When he looked at the bill, he was shocked by a $5 "bitching fee" had been added to the receipt. "Honestly, I thought it was hilarious. In fact, it was probably the funniest thing that happened that night. I passed the receipt around the table so everybody could get a good laugh," the man told Newsweek. At the time, he didn't think anything notable happened, except for the waitress mixing up his beer order, but when he asked for the correct beer it was clear the team had noted the request.
