Today I discovered priceyourmeal.com (sorry they don’t sell tshirts), but they have an interesting business model. Basically its an ebay for restaurants based in Glasgow. You can bid for a meal for two or a lunchtime buffet whatever the restaurant is willing to offer. At the moment what the restaurants are offering is geared towards generic meal vouchers for two vouchers, but I think there’s real potential here for restaurants willing to be flexible. It should be possible to get cheaper meals in expensive restaurants by booking way in advance, turning up at the last minute, going during less popular times, spending less time there, eating unpopular dishes.
For me price is always too fixed. We aren’t all equal and have different time, money and experience requirements. I think the airline dynamic pricing model is the next big growth area on and offline. Online we now have the tools to link price so closely to demand that the price we charge should always reflect the current level of demand for that product. This gives greater flexibility to smart consumers willing to spend the time and put in the effort to get a good deal.
A few articles related to this 1, 2Â I’ll probably write a full post or series of posts about it as well soon.
You’re bang on about flexible eating arrangements as an avenue to get more people in restaurants. I’d be far more willing to try new things if i was getting it on the cheap. If i’m heading out for a meal that i know is gonna cost me an arm and a leg i’m more inclined to pick the safe option and go for something tried and tested.
Incidentally i’m from Glasgow but have never bothered with using priceyourmeal.com. Mainly because they primarily seem to have lunch vouchers and im quite happy with my roll and soup
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