Latest news with #dynamicpricing
Daily Mail
7 hours ago
- Business
- Daily Mail
Steaks could cost more on weekend if dynamic pricing becomes normal practice, Ivy restaurant chief says
Steaks could cost more expensive on weekends if dynamic pricing becomes normal practice, the chief of the Ivy restaurant chain has warned. Jeremy King, who runs the dozens of Ivy restaurants across the country, said that while he was personally 'really uncomfortable' with the practice, he admitted it was 'fair' for restaurants to sell tables to customers willing to spend a certain amount of money. Dynamic pricing is the practice of changing the cost of a product or service depending on demand. It came under fire after Oasis tickets were sold under the practice, leading to a slew of complaints from customers who felt they were overcharged. King, 71, told the Go To Food podcast: 'I don't begrudge the restaurants, for instance, which are using the apps to sell tables in advance because they've got fed up with people who book months in advance and then spend the entire meal taking photographs of themselves and of the food, ordering the absolute minimum they can just so they can put it on social media. 'So hold the tables back and those restaurants that say if you're willing to pay £200 we have a table for you on a Saturday, I think that's fair. 'I don't like the encroaching dynamic pricing whereby your steak is going to cost more on a Saturday night than it is on a Monday night, that makes me really uncomfortable but that's coming through. We've already seen it in the theatre.' Earlier this year, King gave diners who went to two of his restaurants, Arlington and The Park, a 25% discount if they ate after 9pm in order to encourage later dining times. In February, Disney came under fire after it said that tickets to its American theme parks would jump with demand under a new dynamic pricing plan. Currently, entry to Walt Disney World in Orlando and Disneyland near LA is priced based on pre-set peak and off-peak dates. Under the expected plan—already rolled out at Disneyland Paris—ticket prices at the US parks will fluctuate in real-time based on demand. The new scheme —which would cause huge variations in price —could be introduced by the the end of March, Richard Greenfield of closely-watched Wall Street researchers Lightshed Partners said on Friday. Disney fan Jasmin Guevara, who lives in LA and regularly visits Disneyland in nearby Anaheim, said: 'Does Disney have no shame? 'It has jacked up prices time and time again in the past few years. This will just be another way to squeeze even more money out of me and my family.' Greenfield, respected investor and analyst, explained the timing. He wrote: 'Given the early success of Disneyland Paris' pricing strategy shift, we expect Disney to announce it is moving to a similar airline-style, dynamic pricing plan in the US later in Q1 2025.'
Telegraph
10 hours ago
- Entertainment
- Telegraph
‘Dynamic pricing' is coming to top tables, says leading restaurateur
'Dynamic pricing' is coming to British restaurants, Jeremy King has warned. The renowned restaurateur, whose establishments have included Le Caprice and The Wolseley, said he was 'really uncomfortable' with the idea of charging more for a steak on a Saturday than a Monday. However, he did say it was 'fair' for restaurants to sell tables to customers willing to spend a certain amount to stop people ordering the 'absolute minimum' and spending the entire time taking pictures for social media. Dynamic pricing, commonly used for concerts and theatre shows, means the cost of something changes according to demand, with tickets for popular events shooting up the moment as go on sale and the public rushes to buy one. The practice came under fire when it was applied to fans trying to get tickets for the upcoming Oasis reunion. Speaking on the Go To Food podcast, Mr King, 71, said: 'I don't begrudge the restaurants, for instance, which are using the apps to sell tables in advance because they've got fed up with people who book months in advance and then spend the entire meal taking photographs of themselves and of the food, ordering the absolute minimum they can just so they can put it on social media. 'So hold the tables back and those restaurants that say if you're willing to pay £200 we have a table for you on a Saturday, I think that's fair. 'I don't like the encroaching dynamic pricing whereby your steak is going to cost more on a Saturday night than it is on a Monday night, that makes me really uncomfortable but that's coming through. 'We've already seen it in the theatre, it widens the rich prosper and the poor are deprived.' Earlier this year, King himself introduced a 25 per cent discount at his two restaurants, Arlington and The Park, for diners eating after 9pm to encourage the public to 're-acquaint' themselves with eating late.
Daily Mail
20-06-2025
- Daily Mail
Flights are 'almost always cheaper' if you depart on two specific days of the week reveals travel expert
A travel expert has revealed the best days of the week to fly to secure a cheap flight. Dawn Morwood, co-director of Cheap Deals Away, says that travelling on two specific days will help tourists save money on their flight. Speaking to the Express, the expert reveals that flying mid-week could help travellers snap up a bargain flight. Dawn says: 'Tuesday and Wednesday departures are almost always cheaper than weekend flights.' Many British travellers try to maximise their time away by flying at the weekend so prices are generally highest on Saturday. If you're able to be flexible with your departure date, it's worth checking the price of your flight across different days. Dawn also claims that booking a flight at the earliest date possible isn't always the best way to save money. She says: 'I've seen people book flights 10 months early thinking they've got a bargain, only to watch the same route drop by £200 per person just weeks before departure. 'Airlines use dynamic pricing, which means they're constantly adjusting based on demand predictions.' However, the expert adds that booking a flight last-minute is also a risky way to travel. She explains that tourists could face 'inflated prices' and 'limited availability' as well as being forced to 'compromise' on 'accommodation quality' if they book late. According to Dawn, the ideal time to book a short-haul flight to Europe is six to eight weeks before departure. When it comes to a long-haul flight, it's best to book eight to 12 weeks ahead of travel.
Forbes
13-06-2025
- Business
- Forbes
Emotional Intelligence: The Next Step In Retail Dynamic Pricing
Anton Timashev, co-founder and CEO at Wayvee Analytics – emotion recognition technology for capturing direct customer feedback in retail. You've probably checked the price of a flight, found a good deal and returned later—only to see the price has gone up. Or you've seen an online product's price change depending on when and how often you checked it. This is dynamic pricing in action—where prices shift in real time based on demand, competitor pricing and customer behavior. For online retailers, this is standard practice. Prices adjust constantly, helping businesses maximize revenue and quickly respond to demand. In physical stores, however, pricing has traditionally been fixed, with changes happening only through scheduled markdowns, seasonal sales or promotions. That's beginning to change. Electronic shelf labels (ESLs), AI-driven analytics and real-time inventory tracking are allowing brick-and-mortar stores to experiment with dynamic pricing, adjusting prices throughout the day based on factors like stock levels, demand or external conditions like weather. However, even with these advancements, pricing strategies still rely on past sales data, inventory movement and competitor trends. One critical piece is still missing: understanding how pricing influences customer decisions in real time—at the shelf. While demand, competitor pricing and past sales data are useful indicators, they don't provide direct insight into how customers actually perceive pricing at the moment of decision making. Retailers can track whether a price adjustment increases or decreases sales, but they don't know why. Did customers see the price as fair? Did they hesitate? Were they expecting a discount that didn't appear? Most purchasing decisions happen in front of the shelf, but retailers lack real-time feedback on how pricing influences customer intent. Unlike e-commerce, where metrics like abandoned carts or time spent on a product page provide clues about price perception, physical stores have no equivalent indicators. Instead, retailers rely on after-the-fact sales reports or surveys, which don't capture missed opportunities or hesitations. This missing feedback loop means pricing decisions are made without fully understanding how customers react in real time—leaving a gap in dynamic pricing optimization. This is where emotions play a key role, as they drive purchasing decisions far more than rational price comparisons. Most purchases aren't made through a purely logical process but are influenced by how customers feel in the moment—whether a price excites them, creates hesitation or triggers an impulse buy. What exactly happens in those few moments before a purchase decision is made? When it comes to consumer behavior, the brain plays a pivotal role in how we make decisions—especially emotional decisions. This is key when we talk about pricing. Research by Dr. Brian Knutson, a neuroscientist in consumer behavior, suggests neural activity can signal whether a customer will buy a product before they consciously make the decision. The moment when people are weighing the product's value against their emotional response to its price is where purchase intent truly forms. For retailers, understanding this subconscious process opens up new ways to refine pricing and marketing strategies to better align with how customers actually make decisions. During decision making, the portion of the brain called the medial prefrontal cortex (mPFC), a region involved in evaluating choices and regulating emotions, helps us assess options by drawing on past experiences, personal preferences and emotional responses. When we're considering a product in a store, our mPFC is actively weighing its value. Is it worth the price? Should I buy it or walk away? This evaluation happens largely on a subconscious level, with emotions playing a key role in shaping our decision—often before we're fully aware of it. Most pricing models rely on macroeconomic trends and competitor pricing, making them more about the retailer than the customer. When you bring emotional intelligence into the mix, the focus shifts to how people actually perceive prices—creating a model that's built around the customer, not just the market. Retailers have tested different ways to make pricing more customer-driven. For example, Kroger tried ESLs with facial recognition to show targeted ads and adjust prices based on who was shopping. However, this method used biometric data like age and gender, which raised concerns about bias in pricing. Emotional intelligence takes a different approach; it's about understanding how customers feel in the moment and shaping their experience accordingly. How can retailers actually use these insights? Advanced AI-powered emotional analytics can be integrated with ESL systems to measure how customers perceive different prices in real time. Since emotional response is a key indicator of purchase intent—the moment when a customer decides whether to buy—retailers can experiment with different price ranges to see what resonates best. Another possible application is A/B testing of different price points. Unlike traditional A/B testing, which relies on sales data after a purchase is made, this approach provides immediate feedback on price perception. Retailers can understand how different pricing strategies affect customer sentiment before the point of sale. While emotional analytics is opening up new possibilities for pricing strategies, there are still a few reasons why it's not yet mainstream. Many early solutions have relied on camera-based systems or biometric data, which raised understandable concerns about privacy and transparency. Newer technologies now offer less intrusive, more respectful approaches—but as with any emerging tool, it takes time to build trust and prove consistency in real-world environments. As these solutions continue to evolve and more pilot programs demonstrate their value, emotional intelligence is poised to become a more integrated part of how retailers fine-tune pricing—not just based on market logic but on customer response. Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?
Associated Press
02-06-2025
- Business
- Associated Press
Dynamic Pricing Outperforms Time-of-Use in California EV Charging Pilot with 98% Energy Delivered Off-Peak
Dynamic pricing-based pilot with MCE and SVCE demonstrates enhanced flexibility and estimated $200/year average customer savings versus Time-of-Use Rates alone. PALO ALTO, CA, UNITED STATES, June 2, 2025 / / -- New results from a smart EV charging pilot, funded by the California Energy Commission's (CEC) REDWDS initiative and implemented by in partnership with MCE and Silicon Valley Clean Energy (SVCE), highlight the significant potential of dynamic price signals in optimizing EV charging. ChargeWise California's first phase tested how a dynamic approach can improve grid stability, lower energy costs, and boost renewable energy use in California. The findings highlight that dynamic price signals and automated charging management substantially improve managed EV charging compared to traditional Time-of-Use (TOU) rates. This approach delivered up to 98% EV charging load off-peak, significantly outperforming the 60-70% typically achieved by TOU rates alone, or the 90% by combining TOU with managed charging programs. Initial Pilot Insights: 1. Dynamic Approach Outperforms Time-of-Use for EV Loads: In addition to delivering 98% EV charging off-peak, ChargeWise California saved customers $10–20/month, shifted up to 30% of charging to solar-rich hours, and smoothed demand by avoiding the 'snapback' secondary peaks often triggered by rigid TOU schedules. 2. Lower Bills for Everyone: Dynamic pricing can save EV drivers ~$200 per year and reduce total system costs to lower utility bills for non-EV drivers. estimates aligning rates with grid-wide and local distribution signals will unlock over $1,000+ in annual system value per EV. 3. Whole-home Dynamic Rates are Inequitable: Applying dynamic rates to all customer load risks increased costs for customers without flexible tech like home batteries and EVs. ChargeWise California's submetering 'type-of-use' solution offered targeted incentives for EV charging, ensuring equity and high participation, with over 1,000 enrolled in 2 months, and over 50% from disadvantaged communities. 4. Programs Amplify Rates Impact: Dynamic rates amplify value when integrated with smart, customer-focused programs. ChargeWise California successfully combined dynamic pricing with automation in MCE and SVCE's managed charging programs, driving engagement to benefit both customers and the grid. 'Enrolling in MCE Sync was incredibly easy, and it has made managing my EV charging so simple. I love being able to track my energy consumption and see how much I'm saving each month. It's reassuring to know I'm charging with clean energy during off-peak times and making a positive impact, all while keeping more money in my pocket!', said Franco Maynetto, MCE Sync participant. 'The early results highlight just how impactful dynamic pricing can be in reshaping EV charging to support a cleaner, more flexible grid,' said Nick Woolley, CEO and Co-Founder of 'To fully realize the value of managed charging, we need an approach that is equitable, dynamic, system-aligned, and built through collaboration. That means designing solutions which precisely target flexible load, while making it easy for all customers to benefit—especially those in underserved communities. By utilities, aggregators, and policymakers working together in programs like ChargeWise California, we can create a path to unlock flexibility and deliver sustained reductions to electricity rates, with no negative consequences.' 'Silicon Valley Clean Energy is thrilled to see the insights and results coming out of this innovative dynamic pricing pilot,' said Monica Padilla, SVCE CEO. 'Helping our customers charge off-peak to lower their bills and align their charging with when energy is cleanest is not just valuable for our community, but for the broader California energy ecosystem.' 'As local electricity providers, the flexibility to innovate helps us meet the needs of our communities while advancing the California's clean energy goals. Combining targeted dynamic pricing with managed charging can significantly shift peak load and reduce costs, especially for residents and businesses in underserved communities. This pilot is proof that building partnerships with companies like backed by support from the CEC, is crucial for creating a dynamic, efficient, and equitable energy future for all Californians. We will continue to track the value of combining managed charging with dynamic versus time of use rates,' said Alice Havenar-Daughton, Vice President of Customer Programs at MCE. The initial findings demonstrate the crucial need for the energy industry to adopt a collaborative, holistic approach that considers all aspects of the energy system, including distribution, wholesale, capacity, and ancillary services. By prioritizing equitable program design and adaptive learning through testing, energy companies can optimize grid efficiency, integrate renewables, and lower customer bills. About is a Certified B Corporation® with a mission to make EV charging greener, cheaper, and smarter for utilities and their customers. Its end-to-end software platform wirelessly connects to a range of electric vehicles and chargers to intelligently manage EV charging while working with utilities to put cash back in customers' wallets for charging at grid-friendly times. With a global base of utility, vehicle OEM, and EVSE partners, manages more than 200,000 EVs on its platform each day. Learn more at About Silicon Valley Clean Energy Silicon Valley Clean Energy is a not-for-profit, community-owned agency providing electricity from renewable and clean sources to more than 280,000 residential and commercial customers in 13 Santa Clara County jurisdictions. As a public agency, net revenues are returned to the community to keep rates competitive and promote clean energy programs. Silicon Valley Clean Energy is advancing innovative solutions to fight climate change by decarbonizing the grid, transportation, and buildings. Learn more at About MCE MCE is a not-for-profit public agency and the preferred electricity provider for nearly 600,000 customer accounts and 1.5 million residents and businesses across Contra Costa, Marin, Napa, and Solano Counties. Setting the standard for clean energy in California since 2010, MCE leads with 60–100% renewable, fossil-free power at stable rates, serving a 1,400 MW peak load, significantly reducing greenhouse emissions, and reinvesting millions in local programs. For more information about MCE, visit or follow us on your preferred social platform @mceCleanEnergy. James Pratley +44 7940 369556 [email protected] Visit us on social media: LinkedIn Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
