Consumer Decides – Restaurants Asking You What You’re Prepared to Pay

Sydney restaurants have noticed a decline in consumers recently as numerous of us tighten our belts and try to brave the existing financial uncertainty. There are, nevertheless, some restaurants with their finger on the pulse with regards to what their clientele are searching for most right now: a low-cost evening out.

www.kingstreetwharf.com on Bondi Beach is one such restaurant. To draw in a crowd and hold bums in seats, restaurateur Adam Gerondis has devised the excellent menu along with the excellent asking price: the Sobo Credit Crunch Menu, exactly where you pay what you really feel.

Although Sobo gives this deal until 9 April, such negotiable pricing systems could signify an emerging trend in organization, with other restaurants and corporations performing likewise.

In February, London restaurant The Small Bay offered their customers the same flexibility to spend what they felt their meal was worth, though in Melbourne the vegetarian organic restaurant Lentil as Anything has been offering this identical customer-decides system given that 2000. Even though a not-for-profit community organisation largely staffed by volunteers, Lentil as Something is gaining in popularity, with its two restaurants normally busy, and also operates the exact same service to Collingwood College canteen.

The consumer-decides model has even extended as far as hotels, with price range hotel chain Ibis in Singapore also offering guests the opportunity to set the price of their remain in February.

And it makes sense, offered that we as buyers are much less likely to portion with our cash without a fantastic deal or a sense of loyalty involved. To my mind, the customer-decides model ticks each of these boxes, whilst also making sure higher high quality of solution and service, offered that their payment in dependent on our general contentment at the end. It’s a model I’d be willing to spend excellent cash to which hopefully far more Sydney restaurants and companies will adopt.

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