Author William Poundstone’s four year old book, Priceless: The Myth of Fair Value (and How To Take Advantage of It), is causing a new ruse for the hospitality community. Restaurant News penned a digital lead to a story published in the Daily Mail about it this week and the Food Network also blogged about it.
At task for restaurateurs, is a big reveal on what customers should keep an eye out for on menus—specifically spilling the beans on menu marketing tactics used by many restaurants and why.
One of the main points highlighted in both write ups, cites a 2009 study which showed that leaving the dollar sign off listed menu prices encouraged an 8% spend increase among customers. Which is why, as the UK press put it, “Pound signs are disappearing from menus as quickly as cod are vanishing from the oceans.”
Other coverage highlights included points on why certain items are set off in boxes on menus and why “specials of the day” really aren’t that special at all.
This is definitely one of those posts that any business cringes over. No company wants to advertise why they do or don’t include certain wording or aesthetics in things they publish for public consumption whether it be menus, ads, websites, etc.
Certainly, no one wants a server to say, “I’m going to try to up sell you right now,” right before they suggest more drinks, appetizers or dessert. Consumers are savvy—they understand the art of the deal. (They often try to use it to their advantage too.) Things like this needn’t be spelled out in neon.
Fests & Feasts
Sausage Fest Chicago kicks off tomorrow at 5 pm in a new location, at St. Michael’s on N. Cleveland Ave. in Old Town and runs through Sunday.
What makes this event a stellar stand out is its “Sausage King of Chicago” competition. Contestants vie for the crown by raising money for charity—this year, for the Wounded Warrior Project. The contestant who raises the most donations for the cause is crowned king. In addition to the royal title, the winner also gets prizes and free food and drink throughout the festival weekend.
Also this weekend, the 11th anniversary of Bash on Wabash takes place between 13th Street and 14th Place on Wabash in the South Loop. The festival offers music, food, drink, vendor booths, arts and crafts, and is jam packed with lots of kid activities, including a 5k Run and 10 mile Bike.
Bash on Wabash brings neighbors and business together to benefit the GSLA (Greater South Loop Association) with a portion of the proceeds going to the South Loop Food Pantry.
Find more festival dates at Time Out Chicago.