Exchange Bar & Grill: Unique Restaurant Concept Where Menu Prices Set & Changed Based On Demand
With the state of the economy over the last couple of years, many people have found themselves taking a closer look at the prices of items that they once took for granted, because suddenly they don't seem to be quite so affordable. Many families have had to give up basic luxuries like eating out and this further affects the livelihood of the hospitality industry. Since the economy affects consumers and businesses alike, there's one restaurant that generates their prices based on trends.
Exchange Bar and Grill in NYC doesn't have set menu prices and unfortunately, it's not based entirely on the economy, but upon ordering trends of their patrons. Though when you think about it, the state of the economy effects personal spending and therefore has an impact on who's ordering certain items from the menu or if business is hurting.
Their structure is simple and smart. Menu items that are popular and frequently ordered have higher prices, while those that are less popular have prices set on the lower end to make them more enticing. If there are a limited number of people ordering the bulk of menu items, they will lower prices until there is greater appeal. Exchange Bar and Grill constantly adjusts its prices to meet demand and has tapped into an effective way to ensure that people continue to dine out!