According to Omar Merlo, the academic director of strategic marketing programmes at the Imperial College Business School, dynamic pricing is when retailers adjust their prices in response to supply and demand. Surge pricing is when customers are charged higher prices when demand spikes.
The Wardour Street branch of O'Neill's, in central London, has implemented an additional £2 charge to pints ordered after 10pm. This means a pint of Brewdog IPA that costs £7.40 during the day will cost £9.40 after 10pm. The policy has been in place since 2022 to comply with the licensing requirement for more security staff.
Though it has angered many, O'Neill's is not the first to introduce surge pricing. Here are other industries that have implemented a form of dynamic pricing - and how it might be developed.
Ride-hailing apps
The cost of a cab using ride-hailing apps changes frequently, but Uber and Bolt also practise surge pricing.
Isabella Coolican, an associate in the competition team at Freeths law firm, said that prices tended to become more expensive on Friday or Saturday evenings, in bad weather or after big events because the demand exceeded supply.
This story is from the November 19, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the November 19, 2024 edition of The Guardian.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
'We have the talent to do it' Carsley insists England can win World Cup under Tuchel
Lee Carsley believes England will be in a good position to win the next World Cup when Thomas Tuchel takes charge of the national team in the new year.
Seven-match ban handed to Bentancur for racist Son slur
Rodrigo Bentancur has been banned for seven domestic matches by the Football Association for using a racial slur against his Tottenham teammate Son Heung-min.
Carsley's Kids have been refreshing, but is Tuchel likely to stick with them?
New manager may be in too much of a rush to play youth but interim coach has exposed obsession with big names
Bellamy sets out to make Wales a 'top national team'
Craig Bellamy has reiterated that he does not want Wales to settle for mediocrity, insisting he plans to establish them as \"one of the top national teams\".
Holloway calls wife in for Swindon ghostbusting job
Swindon Town's manager, Ian Holloway, has suggested the struggling League Two club's bad fortune could be because their training ground is haunted.
What are latest WSL crowd sizes telling us?
Upward curve has flattened slightly with move to main stadiums but establishing an invested fanbase takes time
Robertson's last-gasp header saves Scotland from relegation
Scotland had contributed far too much to the Nations League to finish bottom of Group A1. That was the harsh reality until Andy Robertson's glorious stoppage-time header, which secured a famous win over Poland. Steve Clarke's team live on, courtesy of a playoff berth.
England is 'the mecca', says Itoje amid breakaway talk
Maro Itoje has insisted that playing for England is \"the mecca\" amid fears Steve Borthwick's side could be hit by an exodus of stars heading for a global breakaway league.
Nadal Ends peace before curtain falls on legendary career
Spaniard to bow out in team event after confirming his retirement last month
Trescothick backing Bethell to be 'next Brook' after tour glory
It was mission accomplished for England, after their 3-1 T20 series win against West Indies capped off a \"perfect\" white-ball tour of the Caribbean, according to the interim head coach, Marcus Trescothick.
