After opening a new location in London, Little Bay restaurant allowed diners to pay what the wanted for each menu item in February in part as a publicity stunt and to have a little extra assistance in setting their menu prices.
During the month of February, Little Bay in London was swarming with diners and press who had heard of their recession-friendly tactics in bringing affordable dining to absolutely anyone. With no set prices on the menus, Little Bay diners could pay whatever they felt was reasonable for their meals. While some took the cheap route, most paid what they could afford based on what they felt should be the bill for the quality of meal; a happy medium that provided valuable insight to the restaurant franchise.
Today, Little Bay has set menu prices which are generally affordable for most restaurant goers; and they know this for a fact by looking at what the average patron during the "pay what you want month" felt comfortable paying. Little Bay's menu now consists of affordable meal options, with entrees priced at 5.25 GBP from noon until 7pm and starters and deserts for 2.25 GBP.
During this economic hardship, smart businesses are using smart marketing tactics to get patrons through their doors by allowing them to set the price that meets their budget.