Fancy London restaurant experiments with surge pricing - Spokane, North Idaho News & Weather KHQ.com

Fancy London restaurant experiments with surge pricing

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LONDON -

A fancy restaurant in Londonn is taking a new approach to menu pricing.

You may already be familiar with the concept of surge pricing because of ride-sharing applications like Uber or Lyft. During particularly busy days and times, rides to the airport could cost you more than if you take your ride at non-peak times. Now a top London restaurant, called Bob Bob Ricard, is testing that same concept in its dining room.

The restaurant will offer exactly the same menu, only prices are 25 percent lower for off-peak times, such as Monday at lunch and 15 percent off at mid-peak including dinner on Tuesdays and Sundays. If you book a table for Saturday night, you pay full price. 

“The idea just came from looking at how the rest of the world functions,” owner and founder Leonid Shutov told Bloomberg. “Airlines wouldn't be able to exist, the business model wouldn’t work unless you could balance supply and demand. Everything that we have taken that is widely accepted in the modern economy and applied to restaurants, seems to have worked.”

Other restaurants are watching Bob Bob Ricard's pricing experiment closely and may follow suit. Des Gunewardena, chairman and chief executive of D&D Londo, which owns about 40 restaurants worldwide, says they have considered a similar pricing system, but have never done it because they were worried it would seem too gimmicky. 

"It will be interesting to see what their experience is. We might give it a go," Gunewardena said.

What do you think of the idea of surge pricing at restaurants? Would you be willing to change your dining habits for a better deal? 

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