When the temperature is way into the negatives, not many people want to be outside—but in order to take advantage of the cold weather, Toronto's Luce hopes to coax people out of the house with a sweet restaurant deal. Since winter weather offers the perfect opportunity to stay inside and cozy up, the restaurant is making adjustments to the way its meals are priced based on the weather. For instance, on a day that's -17°C, meals are offered at a discount of 17%. The best part is that the restaurant also takes the wind chill factor into account, meaning you get to enjoy some serious savings as well as a good meal.
In the past, Luce has also experimented with other unusual methods of payment, such as having its customers bring in Canadian Tire rewards money to pay a portion of their meals.
Climatic Restaurant Prices
This Restaurant Deal from Luce Bases the Cost of Meals on Temperature
Trend Themes
1. Weather-based Pricing - Opportunity to adjust prices based on weather conditions, enticing customers to visit during specific weather patterns.
2. Personalized Pricing - Using individualized factors, like wind chill, to determine pricing, creating a unique and tailored experience for customers.
3. Alternative Payment Methods - Exploring non-traditional forms of payment, such as rewards points, to offer customers flexibility and incentivize visits.
Industry Implications
1. Hospitality - Hotels and restaurants could implement weather-based pricing to attract more customers during specific seasons or weather conditions.
2. Retail - Retailers could explore personalized pricing strategies based on individualized factors, such as weather, to increase sales and customer satisfaction.
3. Financial Services - Banks and payment processors could partner with businesses to offer alternative payment methods, like rewards points, to enhance customer loyalty and engagement.