Re:Restaurant workers quit at record rate
by tomc1985 on Tuesday July 20, 2021 @06:58PM
(#27900347)
Business owners can raise their prices slowly. You know, boil the frog. Surely that prevents the harsh reactions that customers have to suddenly having the price raised?
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https://en.wikipedia.org/wiki/Psychological_pricing
$9 or $9.50 for a beer is the most you can charge in some places. You'll suddenly put people off if the beer is $10.
What you can do is charge $9 for a 14 oz beer (previously 16 oz), which is roughly like charging $10.28. Can only do that trick once, though. Or you can increase the size to 24 oz and charge $14.
Yeah but $9 for a beer is already insane in most locales. Most bars charge $5-$7, going down to $3ish (or even a dollar) for a cheap beer in a lower-income area. Unless these restaurant owners are already capped out they have a lot of wiggle room