Dynamic pricing: would you pay more for drinks in a pub at peak times?

It's all about presentation. The way businesses have implemented "surge pricing" feels backwards.

"Surge pricing", when presented to a consumer, is bound to have a negative sentiment. I feel the same way about Uber and delivery apps with demand fees.

Bars used to have "happy hour". My local bars, the happy hour ended at 6. The time when most people have got off work, ran their errands and had time to get over there.

I imagine consumer sentiment is more positive when they make it to happy hour, versus when they get a surcharge.

Though, if someone had a study, I feel that "surcharges" bring in more revenue than "discounted hours", even if the pricing is ultimately the same.

> Pub landlords seeking to introduce dynamic pricing may get a better response if they try and alter the drinkers's perception in a similar way. Presenting price changes as being cheaper during off-peak times are likely to be viewed as a gain from the drinkers' perspective.

I have been to a bar that did something like this from over a decade ago and it was a popular venue.

The bar menu prices function like a basic stock market - the more any one drink is ordered the price goes up by some increment. Conversely, every X minutes that a drink isn't ordered, the price goes down.

edit, found it - https://thetipsycrow.com/drink-exchange/

Once went to a pub which was all 'stock market themed' and the prices went up and down second by second.

Time things well and you could get a pint for a dollar, but order after 10 other people ordered the same thing and you might pay $20.

The price was set at the moment the staff member keyed it into the till, which was obviously a minute or so after you ordered it and the drink was poured, which leads to you often choosing what appears best value at the time, and then paying more.

Some people will grumble. Majority will just continue tapping their cards without looking at what it costs, because they can afford it. Some will fall prey to the gamification and think they're "saving" when the prices are "reduced"

And so it's obviously a plan to take advantage of drunk people so I'm not sure how it ties into relatively strict laws about alcohol pricing. Though I do notice these days many bars love hiding the prices and menus (staff pretending not to know where the price list is is a classic)