Unfortunately Wendy's cancelled the dynamic pricing, which sucks because me and friends came up with a new trading strategy where we were going to buy the dip and set up shop across the street and resell the Wendy's food that we bought during peak hours. Wendy's really wasn't thinking of the gruselers out there.
Imagine waiting in line at wendy's, behind someone taking forever with their order and just watching the price steadily go up. People gonna rage out in lines for sure.
As much as I hope that would be the case, I feel as if sunk cost fallacy would weigh more on the consumers. "I've waited here this long in line, if I leave now it'll be time wasted", that kind of thing.
Atrioc, I work for an Albertsons grocery brand in management, my understanding from the inside is that corporate is feeling VERY cozy about this Kroger deal. They are not the least worried about the FTC, and that scares me.
The Wendy's thing is funny because if they just spun it as a happy hour type thing it would have been positivity received. A restaurant in my town has been doing half off mains from 9pm until closing for 10+ years and there is a line out the door from 830 onwards to get a seat for the 9pm half off. They essentially get to ensure they don't have any food waste and get a ton more business during normally slow hours while also charging more the rest of the time.
@@KainYusanagi The point is that they purposefully framed it exclusively as "we will increase prices when we feel like it because you will give us more money that way" rather than pretending that they're actually favouring the consumer with reduced pricing certain hours.
Crazy that no one at Wendy's corporate thought that the initial decision would be received poorly. Almost like all corporate heads and CEOs are completely detached from reality and only want to "make number go up" for themselves and shareholders. Literally all they had to do was hire one "regular Wendy's consumer" and one consumer psychologist to to work the problem.
If Google is truly worried about AI disrupting their business they should probably stop actively making their search feature worse every chance they get.
I swear! Nowadays I can't find anything on Google. Straight up I use Google now to search reddit because it's actually kinda better than reddit itself at doing that 😂.
Google wrote and released the ‘Attention is all you need’ paper.. ‘considered the founding document for modern artificial intelligence’. Other companies obviously found this paper super useful. In 2023 all 8 authors left google. 🫡
Australian here, Atrioc is pretty much correct, we have about 3 grocery stores, Aldi, Coles and Woolworths, with Coles and Woolworths making up about 80% of supermarkets. Most places that you go to will have a Coles or a Woolworths; in country towns it's even less likely that you'll find any sort of grocery chain except for Woolworths or Coles. A major part of the pricing problem is really down to this duopoly, neither Coles nor Woolworths wants to drop their prices (since they are looking at record profits), and in terms of competition, they increase their prices to compete with the other chain. Since there is so little options for any other supermarket, and both Coles and Woolworths keep trying to compete with pricing, we don't have a choice besides accepting the price increases. This is true for quite a lot of industries in Australia, you'll find a similar problem in Mobile Networks, Airlines and Energy, though it isn't as pronounced since there are more choices there, it remains a fundamental issue for us Aussies.
My kid had to get some baby teeth pulled. The dentist TOLD MY KID: "The tooth fairy pays double for teeth that get pulled." I'm like "Bitch PLEASE! Insurance is not going to cover that extra premium!"
How the hell is the tooth fariy giving $6 per tooth. I have now learned that my daughter has been severely underpaid for her goods. This is why we need tooth price transparency.
@@TheScrubmuffin69 I used to eat fast food pre-Covid. But if you haven't tried it, go to a local restaurant post-Covid and compare your bill to fast food. These restaurants used to be the "expensive" option compared to fast food, but now they're CHEAPER. And they make better, tastier food. I only eat at local restaurants when eating out now, and eat food I cook or prep at home the rest of the time.
I think the average consumer mentality has been divorced from the concept of fair pricing. It's more a mentality of "I want ___ and I'm willing to pay whatever price they say as long as I can afford it". Consumers used to notice and complain when an item was raised off the dollar menu to like $1.25 but now no longer care when the same item just went from $6 to $8.
Really? All I hear and see is "x used to cost __ but now it's __ this is fucked up" like I know a few people who have the mentality around prices that you outlined, but that's bc they're rich n shit. Especially when Wendy's said that prices were gonna be higher it's like fuck no I will just not even walk in, you already told me it's gonna be more expensive
Perhaps the internet have created an outlet that makes action less likely. At the same time the internet makes it easier to organize and form groups to act, it also creates plenty of spaces to vent frustrations in issues where the problem isn't major enough to incentivize people to act without growing, pent-up frustration. If something jumped from say, $10 to $20 people would certainly be outraged. But if the same item was increased in price year-on-year by $1 or $2 the difference isn't big enough for people to create a fuss about the price increase before the new price becomes the norm and the price increases again. They just go on the internet, vent or get satisfaction from watching someone else venting about the same and then go on with their day.
The thing that's infuriating about this, is that if you go overseas and see our fast food joints you'd straight up want to riot. In all regards the quality of the food is better along with better (and healthier) menu options, of which is usually served at probably half the price of what it is or would be here in the states and with better service to boot. At every turn the businesses born and raised in the states treat us like bottom feeding afterthoughts compared to how they serve and treat international markets like Europe and Asia. Yet they expect us to dish out more and more money for their crap food.
That one time in 2020 when there was a pandemic and McDonalds used it as an excuse to eliminate salads from their menu saying they risked exposing their employees to Covid.
As a Wendy’s employee prices are already absurd in my opinion. Definitely glad to see this not going through. Especially when at the location I work, we’re so understaffed that it’s hell during rush hour. Especially when we only have one person to make sandwiches for the drive thru, mobile, door dash, Uber, and dine-in orders. Not to mention the absurd things some people order which completely backs up everything. Such as $85 orders with 13 sandwiches and 11 drinks…
Also, Burger King is so cheap. They just opened one up near by being from New York. I can now get twice as much food for my money than McDonald’s. 8 piece nugget and cheese balls, a drink and a chicken wrap plus a whopper jr. 12$ wtaf.
As someone who has only started going to Burger King recently, I have to say they have reasonable prices and better yet I got lots coupons. So yeah it's better than a lot of fast food options such as stupid overpriced Wendy's.
It's a great deal if you don't mind eating completely inedible garbage. I have tried a couple times but ended up eating a bite or two and throwing it away. Wendy's tastes pretty good mostly and the food isn't sopping wet like BK either. McDonalds is mostly edible if they happen to have heated up your food within the last 5 minutes, if you get anything even slightly old you pretty much cant eat it. Wendys is not on the same level as BK or McDonalds, it's is more like A&W. It's not a good hamburger like 5 Guys but it is somewhere in-between that and McDonalds. I have always been able to eat whatever I ordered from Wendy's and it was fine. McDonalds is edible like 80% of the time, so far BK is 0% on sandwiches/hamburgers for me, but their chicken strips are acceptable. Somehow they even fucked up the pop at the last BK I went to, I don't think they change the syrup and they sure as hell don't clean the machine. I'm sure if a health inspector dropped by they would get shut down.
tooth fairy payments should be the real measure of inflation bc when things get more expensive, the first thing you’re gonna cut back on is the petty cash you give small children who can’t even use it
Wendy's couldn't be stupider. I tried eating at a location 3 times. Each time they either closed the establishment two hours early, made me wait half an hour without a line in front of me, or just flat out ignored me entirely. I'm not going to ever eat at Wendy's and that's without this scandal. If they really wanted to end their business they're doing a terrific job. That same Wendy's has a 2 star rating on Google, notorious for getting simple orders completely wrong or flat out not giving people the food they ordered entirely. The KFC and Taco Bell next door are BOOMING in comparison.
I love Wendy’s saying they think customers are willing to accept these higher prices and then a few months later scrambling to cut prices because it turned out customers were in fact not willing to accept higher prices
Remember when you went wendy's because you didn't have mcdonald's money, and you went to mcdonalds when you had a crumpled bill and some quarters? pepperidge farms remembers.
Man i love how capitalism just breeds innovation that improves all our well-beings, like corporations using data mining, digital analytics and fluid pricing to squeeze the maximum amount possible out of every customer. so efficient! so technological!
"i was in an agni kai with my father" shows zuko fighting General Zhao. This transgression will not be forgiven until atleast 3 more avatar clips are shown in the future videos. also thanks for the avatar clip
I just moved from a city to a rural area in Australia and the prices are even worse, I was flabbergasted. was already crazy and the prices for most stuff here in rural area is 1.8x or so.
I’m horrified by the Kroger Albertson’s merger. They are the only full size grocery (no Walmart, Target, Whole Foods, etc.) stores within 100 miles of where I live.
im so glad that woolworths story made it outside of australia, that guy dressed up as if he actually worked in the store and then made such a fool of himself he retired within like a day!! genuinely insane
I don’t know where you live but the Wendys where I live have curbs along the drive thru, so once you’re in that line you’re stuck until you get past the windows.
The moment Wendy’s take away my 4 for $4 in my area, I’m never coming back. Quite literally the only difference between the 4 for $4 and the $5 biggie bag is the extra patty in a double stack, and a slightly larger drink. If you find an incompetent employee, they would give you the small drink instead of the kids size. Alternatively, do dine-in for unlimited refills which negates the small cup.
I'll definitely pass by Wendy's next time. I'm also paper hands... Sold at $52k... Guess hindsight is 20/20. But I made 40% so I don't feel too too bad 😂😂
I work as a contractor liason at Lowe's. I deal with the construction companies that ma,e high volume purchases and whatnot. The price of (for example) a 4x8 piece of 7/16 OSB has go e up from $14.28 to $17.55 in the last 2 weeks. I asked my supervisor why and he told me it was because of demand. 2 weeks ago I was asking him for advice on the best times to buy materials for my own home renovation projects and he told me it usually doesn't matter because prices usually stay the same throughout the year. Either he was just blowing smoke up my assets, for whatever reason, or Lowe's is following Wendy's example. As a result of these crazy price hikes we are now selling less than half the volume of materials as we were YoY. People are getting tired of the blatant profiteering. I'm hearing a whole lot of dissent and their money is where their mouths are.
I remember I was at work and ordered an uber for a 1 mile ride home (8$~) was 15$ because it's "during more active hours", waited a few minutes and it was back to normal, what a scam
One summer I worked really far from home in an area that was mainly warehouses. One of the only places close enough to walk for lunch was Wendy's, which was fun at first since it is/was my fav fast food place but I definitely got sick of it after the summer. Most days I brought what coins I could get my hands on and the change from my last Wendy's meal, I could usually got a combo but some days I only had enough for a fries. Surge Pricing would fuck me over so hard, so weird that it had to be Wendy's.
Price increases over the years have astounded me… I am a general manager for a sonic location in Texas and I lose my mind sometimes when I look at the price for some of these peoples orders. Our bags of Ice used to sell for 99 cents just 3 years ago and now they are close to $4… even just our burgers and sandwiches are over priced… a regular cheese burger by itself is ~$7 and our chicken sandwich and toaster are close to $14…
Fr. They were used on every computer (or any device that goes online) in my university. Talking thousands of different PCs with confidential info on like half
I do wonder why governments don’t put caps on how much they can charge you for an item. Like “you can’t charge more than 55% of what you paid for the item” because I know a lot of stuff is getting charged for like 55-150%+ whatever they paid to acquire said items.
As a low volt technician who regularly contacts with Wendy's, I'll likely be part of installing these menu screens, but you can bet I'll never spend a dollar there ever again!😂
Another thing with aus is that we FINALLY started a royal commission into price gouging from the big two grocers. It’s publishing the first of its findings soo and hopefully we can get some actual change from that
When the market consolidates into two players, I guess it's time to profit cap them, or break them up. You can regionally break it up, or based on something else. Kroger North and Kroger South or something like that yeah
Basically what happened to Venezuela is going to happen here, suddenly one Burger will cost $1,000, and most restaurants will go out of business because the price was just simply too fucking high, nobody can afford it.
The thing with the grocery stores already happened in my city. We only had Albertsons and Safeway. They merged, and now we have two grocery stores that are owned by the same corporation literally across the street from each other, and no other major grocery stores within an hour drive.
I think that we should automate monopoly restrictions. If someone is in a monopolistic position in a basics industry (food, housing, energy), they have like 5 years to cash out, but afterwards they get peofit capped, unless they find a way to split up. Either let go of a daughter firm, regionally split, or create a separate root company that must not compete with the companies that buy from them.
it's frustrating because things are just cast as different labels, so the dangers of the power of monopolies (which at some point was agreed on enough to pass laws) is also seen as the fruits of being "smart in business". gouging sounds bad if you're a buyer, but "the american dream" if you're a shareholder... it'd be nice if we all realized there's an optimum somewhere not at the extremes and set about trying to determine where they are in different times, industries, economic metrics because all these things change over time so if we decided what symptoms to aim or and avoid it can be tweaked periodically and not have to devolve into a tug of war but anchored in extreme ideals. yeah hearing about surge pricing for wendy's really puts me off going there..not just on principle but practically. since i don't drive why would i put the significant effort to travel to one just to see how much the prices are above normal and then decided i don't want to eat there and have wasted time and effort or determine it's barely tolerable and feel grumpy about my choice to eat there. is the surge money going into having significantly lower baseline prices? like 50 cents a burger + surge. it then becomes gambling and not something i want to do with limited time for lunch.
To clarify, Wendy's will not implement surge pricing, which is the practice of raising prices when demand is highest. We didn't use that phrase, nor do we plan to implement that practice,” a spokesperson said in an email to NBC News. They added there are “no plans” to raise prices at high-demand times
I don’t even buy delivery because I hate the idea of being forced to tip the driver. Fuck it I’ll save $10 and go get it my self. I also avoid restaurants unless its a special group event. I can’t bring myself to overpay for food. The only place I happily tip is at the barber/hairdresser and thats mostly because I feel bad for waiting a long time in between haircuts, and to reward a good job.
There's a local bar that does this where I live called "the Exchange", really cool concept for alcoholic drinks but horrible for every day food consumption. lol
The whole thing about Wendy's and other fast food is it's supposed to be cheap and fast. You know it isn't the greatest bang for your buck but sometimes you're running from a to b and don't have the time to sit down or didn't bring food with you. It's a convenient option. But if the price exceeds the perceived value (looking at you $18 big Mac) goes past the convenience and price, people will either go somewhere else or not go at all. Classic examples are airports and rural areas - I was hungry but I'm not paying $20 for a POS sandwich at the airport.
They lost my business for life just contemplating doing this. Especially considering I can hit a local place that’s better, cheaper, and doesn’t have designs to “surge price”
Wendy's hates me. I only every go to fast food when their apps have good coupons and buy cheap. Wendy's has had $1 Dave's singles and $2 Dave's doubles for a couple weeks in the app now. I've spent about a half hour going to 3 different places near eachother to get a whole meal. One place has a $1 any size fry offer. Place next to it has a bogo burger and the minute market sells the fountain drink I want for half the price. Spend $8 in California for 2 large burgers, large fry and 44oz drink.
I heard this news and saw what they planned on doing and it immediately made me no longer want wendy's. At all. Like I used to only enjoy their chili and spicy chicken sandwich and wrap but this is literally just them testing the waters on how much they can rob people of their money because the people are just so dead and unaware to corporation greed.
This is most things. It's time to not allow them to take your money, make your own food & don't be afraid to go generic. Force them to lower the prices. The government and people alike have let this price gouging get out of hand by paying it.
I work in IT for Wendy’s. We got an email the evening this happened from the CEO basically saying “The media is lying, we’ve never even CONSIDERED this.”
That doesn't really say anything. The fact aside that you're a random person claiming to be someone without really proving it (which you understandably can't really, being the internet and all) he himself could have been doing damage control, unless they make an official statement calling the media out and are willing to defend it they can be lying just as much as he claims the media is.
The first time Wendy's tries to price surge me will be the last time I go to their restaurant...... the way prices are right now I already feel like I'm being gouged I'm not going back
you know the surge pricing sucked the first time i heard it, cause if someone tries to up charge me while i was in line im walking out, but as a former wendys employee that's fucking GOATED. You don't want to pay extra while we are clearly slammed with customers? good! please get the fuck out of the store!
Wow this is worse than I was expecting - one of the only "good" things about the American economy is that you can expect prices will generally be the same tomorrow as they are today. Surge pricing, adding instability to this process - can only prove to be harmful to trust in the economy.
Not sure what's going on with the Wendy's thing other than just them having a terrible misunderstanding of human psychology. Stores basically do this anyway and always have... they set the initial price really high and then offer "discounts" that bring it back down to what it should be whenever sales are slow. Wendy's only looks bad because they suggested raising prices above the MSRP when demand is high, rather than having a high initial price and offering a discount to move product. And if enough people come in to take advantage of the low prices? Then at worst they have to pay full price. The fact is, people will freak out on you if they don't know upfront what the maximum they might have to pay is, they start imagining worst-case scenarios and paying $40 for a $20 meal. But they do appreciate an unexpected discount from that price if you can afford to offer it. If you don't believe me, try it yourself... tell someone an item costs $10 and then offer a limited-time discount to $6 during a period when sales are slow, and compare people's reaction if you start the price at $6 and then jack it up to $10 when sales are high. You'll see that they do not react the same way, even if logically they should and it amounts to the same thing. Uber is different because it's a service that requires whoever is available at the time to agree to do something for you rather than choosing to serve someone else, and also people who need an Uber often cannot afford to wait and don't have a lot of cheaper options that they have time to investigate. People who are considering buying Wendy's can go to any other fast food restaurant and possibly even choose to eat at home. Fast food costs are not nearly as dynamic as the Uber market. That is to say, it makes sense for an Uber driver to walk away from a transaction with a potential customer, because there is no sunk cost. But if you're in fast food, you have the ingredients, the salaries, you have to pay to have the whole thing setup regardless. With Uber, the driver can walk away from the transaction and lose nothing. With fast food, the restaurant is losing money with every unsold burger because that's already paid for and just went in the trash if no one bought it. Also, with Uber, people kind of see themselves as the employer and the platform as facilitating them hiring a driver. So they would if anything be pissed at the drivers for demanding more money, not at Uber as a whole. With Wendy's, people absolutely will blame the company for raising prices.
The $5 biggy bag just rose to $6 not very long ago. I eat there very frequently and this would be an incredible way for me to stop eating there and maybe just bringing home made lunches.
9:50 Meanwhile in Poland, two biggest grocery stores are fighting for the lowest price, which mean, some products are cheaper than production cost. It's funny to watch, shame it won't last for long
Wendys used to have the 4 for $4 now at my Wendys, the biggie bag is now $8. Corporate greed will be their downfall and even though they didn't go through with the surge pricing, the fact that they even considered it tell will you all you need to know about what is important to them. Corporations do not care about the consumers, just the money we make them, just look at the Kelloggs controversy to see my point.
*Peak Demand Pricing:* "Therefore market forces dictate that we raise our prices. In business school its called Supply and Demand" -Lloyd Vickers "Yeah, well in the real world thats called stickin it to people when they need us most!" -Hank Hill
you know dynamic billboards can be used to so many financial advantages for the company. Like for example if there is a rush, take off all the hyper complicated shit off the menu and focus on your 3-4 ingredient items that get made in seconds. You could also surge the pricing of the more complex items and lower the price of the simpler ones to push people into buying those. These might be stupid ass ideas I have but nobody can deny they are INFINITELY smarter than single mother late to pick up her kids pay 30$
Seeing the grocery store situation make me thankful for being an south east asian that lived with a lot of cheaper indian grocery store available everywhere at any proximity lmao, this is why in my country nobody really monopolized the market because there always someone out there selling for cheaper
They could have easily made surge pricing work if they worded it properly. Gaming already solved this, look at WoW rested bonus vs exp penalty for playing too long. Its exactly the same mechanically but the framing makes one acceptable. If Wendys just raised prices, then offered discounts for the 85% of the time they are slow... that would seem good.
if i were another fast food company i would literaly start taking out loans to build a competitor across the street all over the nation and then impliment a program to lower the prices whenever wendy does surge pricing just to fuck with them
Just too add onto the Australian stuff, we also have aldi and IGA but they're miniscule compared to woolworths and Coles. Also Coles well known phrase is "down down, prices are down" haven't seen that one in a few years, I wonder why?
"It is not possible to say who is worse. This persons actions have been criticized for being insensitive, while this persons actions led to the deaths of millions. Ultimately, it up to you to decide." 🤣
Lmaooooo at the SBF stories im crying over here 😂 hearing from a lot of friends about what jail/prison is like from them and then imagining SBF having to deal with jail house politics
11:56, today I bought a loaf of bread, 1L of lime cordial and 4 cans (4-pack not individual) of the cheapest energy drink you can buy (which for context is even cheaper than half-price Red Bull) and it cost me just shy of $27... The Coles-Woolworth duopoly is... "great".
Unfortunately Wendy's cancelled the dynamic pricing, which sucks because me and friends came up with a new trading strategy where we were going to buy the dip and set up shop across the street and resell the Wendy's food that we bought during peak hours. Wendy's really wasn't thinking of the gruselers out there.
damn bro talks about work smart, not hard
So arbitrage on wendy's.
Keep on gruseling
I dont know how many people want cold Wendy's
or food from a random stranger@@KManAbout
Imagine waiting in line at wendy's, behind someone taking forever with their order and just watching the price steadily go up. People gonna rage out in lines for sure.
Imagine stalling your order when the prices are falling to get a little discount lmao
@@tobeneit's not a discount if they don't make the prices lower than the base prices, which they won't
I’m sure the employees will love that.
I’m sure there will be no vandalism either.
@@tobeneCan I get uhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh...you guys have burgers here right?
As much as I hope that would be the case, I feel as if sunk cost fallacy would weigh more on the consumers. "I've waited here this long in line, if I leave now it'll be time wasted", that kind of thing.
Atrioc, I work for an Albertsons grocery brand in management, my understanding from the inside is that corporate is feeling VERY cozy about this Kroger deal. They are not the least worried about the FTC, and that scares me.
Bummer to hear ! Hopefully they are proven wrong, it's a nightmare for consumers and workers.
If they don't merge, they'll definitely just form a cartel with fixed prices and take on any fines that come years after. It's a silly game we play
Hopefully the FTC can be a little less useless
If they drastically raise pricing, thefts are going to go up and there's nothing they can do about that lol.
You gona cry?
Marketing Monday on an actual Monday? Must still be dreaming
Its not monday on my Country . almost 1.5 HOURS😂
@@mesiroy1234where you located? 1955?
am i dreaming, is there more like us
@@mesiroy1234I will drag you into a timezone where it is monday.
we are living in the matrix
The Wendy's thing is funny because if they just spun it as a happy hour type thing it would have been positivity received. A restaurant in my town has been doing half off mains from 9pm until closing for 10+ years and there is a line out the door from 830 onwards to get a seat for the 9pm half off. They essentially get to ensure they don't have any food waste and get a ton more business during normally slow hours while also charging more the rest of the time.
That's literally what they did, though?
@@KainYusanagi The point is that they purposefully framed it exclusively as "we will increase prices when we feel like it because you will give us more money that way" rather than pretending that they're actually favouring the consumer with reduced pricing certain hours.
Crazy that no one at Wendy's corporate thought that the initial decision would be received poorly. Almost like all corporate heads and CEOs are completely detached from reality and only want to "make number go up" for themselves and shareholders. Literally all they had to do was hire one "regular Wendy's consumer" and one consumer psychologist to to work the problem.
They backtracked and are now doing that lol.
@@thenightjackal Except they didn't do that. The "news" article did, by associating it with Uber-style surge pricing out of thin air.
If Google is truly worried about AI disrupting their business they should probably stop actively making their search feature worse every chance they get.
I swear! Nowadays I can't find anything on Google. Straight up I use Google now to search reddit because it's actually kinda better than reddit itself at doing that 😂.
like youtube seach
hell i there was a lot "unrelevant" relevant seach
Google wrote and released the ‘Attention is all you need’ paper.. ‘considered the founding document for modern artificial intelligence’. Other companies obviously found this paper super useful.
In 2023 all 8 authors left google. 🫡
But but but but IF WE CAN'T CENSOR THE TRUTH AND CALL YOU EVIL FOR BREATHING OUR AIR WE DON'T DO IT RIGHT.
@@pedi-kun3978youtube search is literally unusable, nothing related pop outs anymore. I have been using freaking Bing and YT Algorithm now
Australian here, Atrioc is pretty much correct, we have about 3 grocery stores, Aldi, Coles and Woolworths, with Coles and Woolworths making up about 80% of supermarkets. Most places that you go to will have a Coles or a Woolworths; in country towns it's even less likely that you'll find any sort of grocery chain except for Woolworths or Coles. A major part of the pricing problem is really down to this duopoly, neither Coles nor Woolworths wants to drop their prices (since they are looking at record profits), and in terms of competition, they increase their prices to compete with the other chain. Since there is so little options for any other supermarket, and both Coles and Woolworths keep trying to compete with pricing, we don't have a choice besides accepting the price increases. This is true for quite a lot of industries in Australia, you'll find a similar problem in Mobile Networks, Airlines and Energy, though it isn't as pronounced since there are more choices there, it remains a fundamental issue for us Aussies.
My kid had to get some baby teeth pulled. The dentist TOLD MY KID: "The tooth fairy pays double for teeth that get pulled." I'm like "Bitch PLEASE! Insurance is not going to cover that extra premium!"
How the hell is the tooth fariy giving $6 per tooth. I have now learned that my daughter has been severely underpaid for her goods. This is why we need tooth price transparency.
I was hyped if I got a dollar for my tooth’s 😂
@@mrdavman13right I got change to a dollar 😅 I should’ve joined the union
Bruh I already didnt go to Wendy's this has set in stone that I will never step foot in a Wendy's again.
I did like going there but man I ain't touching that place anymore
I used to get 4 for 4s regularly but since it was replaced with the 'biggie bag' I haven't gotten wendys since
So you guys just don't get fast food then? Wendy's is objectively the best fast food burger restaurant in terms of quality. Still fuck em though
@@TheScrubmuffin69 I used to eat fast food pre-Covid. But if you haven't tried it, go to a local restaurant post-Covid and compare your bill to fast food. These restaurants used to be the "expensive" option compared to fast food, but now they're CHEAPER. And they make better, tastier food. I only eat at local restaurants when eating out now, and eat food I cook or prep at home the rest of the time.
I think the average consumer mentality has been divorced from the concept of fair pricing. It's more a mentality of "I want ___ and I'm willing to pay whatever price they say as long as I can afford it". Consumers used to notice and complain when an item was raised off the dollar menu to like $1.25 but now no longer care when the same item just went from $6 to $8.
Really? All I hear and see is "x used to cost __ but now it's __ this is fucked up" like I know a few people who have the mentality around prices that you outlined, but that's bc they're rich n shit. Especially when Wendy's said that prices were gonna be higher it's like fuck no I will just not even walk in, you already told me it's gonna be more expensive
@@fedweezy4976 the thing is that even with those comments that won't stop people from buying, it is just met with a "yep" and a shrug
The definition of afford changed from within my preplanned budget for the month so I have enough to save and for emergencies, to in my bank account
idk i just don't go to fast food places anymore bc it's so much cheaper to just make my own food
Perhaps the internet have created an outlet that makes action less likely. At the same time the internet makes it easier to organize and form groups to act, it also creates plenty of spaces to vent frustrations in issues where the problem isn't major enough to incentivize people to act without growing, pent-up frustration. If something jumped from say, $10 to $20 people would certainly be outraged. But if the same item was increased in price year-on-year by $1 or $2 the difference isn't big enough for people to create a fuss about the price increase before the new price becomes the norm and the price increases again. They just go on the internet, vent or get satisfaction from watching someone else venting about the same and then go on with their day.
The thing that's infuriating about this, is that if you go overseas and see our fast food joints you'd straight up want to riot.
In all regards the quality of the food is better along with better (and healthier) menu options, of which is usually served at probably half the price of what it is or would be here in the states and with better service to boot.
At every turn the businesses born and raised in the states treat us like bottom feeding afterthoughts compared to how they serve and treat international markets like Europe and Asia.
Yet they expect us to dish out more and more money for their crap food.
That one time in 2020 when there was a pandemic and McDonalds used it as an excuse to eliminate salads from their menu saying they risked exposing their employees to Covid.
That is because they don’t treat you better than they are forced to by law and the US has VERY lax regulations.
Try the Russian versions. Cheap af, McDonald's knockoffs, that are impossible to sue from the states.
@@thuglifebear5256 ah yes my favori8te, MIG donalds
As a Wendy’s employee prices are already absurd in my opinion. Definitely glad to see this not going through. Especially when at the location I work, we’re so understaffed that it’s hell during rush hour. Especially when we only have one person to make sandwiches for the drive thru, mobile, door dash, Uber, and dine-in orders. Not to mention the absurd things some people order which completely backs up everything. Such as $85 orders with 13 sandwiches and 11 drinks…
Marketing monday on a monday? INSANE
Thanks for covering the Aussie supermarket price crisis, it's absolutely fucked for us right now.
Unless you can go to Aldi much much better there if there's one around you. Saves literally thousands of dollars a year
Also, Burger King is so cheap. They just opened one up near by being from New York. I can now get twice as much food for my money than McDonald’s. 8 piece nugget and cheese balls, a drink and a chicken wrap plus a whopper jr. 12$ wtaf.
Too bad Burger King sucks. I love getting a stone cold burger, mid fries, and mid Coke out of the Coke machine.
As someone who has only started going to Burger King recently, I have to say they have reasonable prices and better yet I got lots coupons. So yeah it's better than a lot of fast food options such as stupid overpriced Wendy's.
Yeah but it tastes like literal garbage
It's a great deal if you don't mind eating completely inedible garbage. I have tried a couple times but ended up eating a bite or two and throwing it away. Wendy's tastes pretty good mostly and the food isn't sopping wet like BK either. McDonalds is mostly edible if they happen to have heated up your food within the last 5 minutes, if you get anything even slightly old you pretty much cant eat it.
Wendys is not on the same level as BK or McDonalds, it's is more like A&W. It's not a good hamburger like 5 Guys but it is somewhere in-between that and McDonalds. I have always been able to eat whatever I ordered from Wendy's and it was fine. McDonalds is edible like 80% of the time, so far BK is 0% on sandwiches/hamburgers for me, but their chicken strips are acceptable.
Somehow they even fucked up the pop at the last BK I went to, I don't think they change the syrup and they sure as hell don't clean the machine. I'm sure if a health inspector dropped by they would get shut down.
If burger king tasted more then just acceptable then I'd go there more often.
As of this morning, Spirit Airlines and JetBlue have terminated the merger entirely. Spirits stock tanked because of this
Damn i was about to eat without a video. Thanks atrioc!
just eat without a video
@@a.drian.impossible
@@a.drian. never
@@a.drian. ew
@@a.drian. impossible difficulty
tooth fairy payments should be the real measure of inflation bc when things get more expensive, the first thing you’re gonna cut back on is the petty cash you give small children who can’t even use it
“Strippers are the best economists” basically
THAT WASNT THE AGNI KAI WITH ZUKOS DAD, THAT WAS THE GENERAL GUY
zhiao
Zhao
yeah but he got the scar from the Agni Kai w his father, the point still stands
It's for a throwaway pink eye joke bro it's not that serious
As you were talking about the Kroger deal I was thinking "sounds like Australia's situation"
Wendy's couldn't be stupider. I tried eating at a location 3 times. Each time they either closed the establishment two hours early, made me wait half an hour without a line in front of me, or just flat out ignored me entirely. I'm not going to ever eat at Wendy's and that's without this scandal. If they really wanted to end their business they're doing a terrific job.
That same Wendy's has a 2 star rating on Google, notorious for getting simple orders completely wrong or flat out not giving people the food they ordered entirely. The KFC and Taco Bell next door are BOOMING in comparison.
One bad location really shouldn’t define your opinion on a brand. These restaurants are run by different people and have different quality.
I love Wendy’s saying they think customers are willing to accept these higher prices and then a few months later scrambling to cut prices because it turned out customers were in fact not willing to accept higher prices
Remember when you went wendy's because you didn't have mcdonald's money, and you went to mcdonalds when you had a crumpled bill and some quarters? pepperidge farms remembers.
Man i love how capitalism just breeds innovation that improves all our well-beings, like corporations using data mining, digital analytics and fluid pricing to squeeze the maximum amount possible out of every customer. so efficient! so technological!
Well it is efficient at making money. Not much else though
No one could foresee rent seeking behavoir
Capitalism is just a wrecking ball
It was great for dismantling the monarchy, but now it's not letting to build something new
its capitalism when its "how much can the consumer accept" vs "how much did this thing cost to make"
Companies being innovative [Gone German][Gone Wrong][Gone Sexual][BANKRUPTCY FILED, IRS CALLED][Gone out of business]
"i was in an agni kai with my father" shows zuko fighting General Zhao. This transgression will not be forgiven until atleast 3 more avatar clips are shown in the future videos. also thanks for the avatar clip
I just moved from a city to a rural area in Australia and the prices are even worse, I was flabbergasted. was already crazy and the prices for most stuff here in rural area is 1.8x or so.
I’m horrified by the Kroger Albertson’s merger. They are the only full size grocery (no Walmart, Target, Whole Foods, etc.) stores within 100 miles of where I live.
I will devour this slop even though I have already consumed it on the VODs channel
You should watch the vod about an evil Japanese corporation it's pretty good
im so glad that woolworths story made it outside of australia, that guy dressed up as if he actually worked in the store and then made such a fool of himself he retired within like a day!! genuinely insane
I'm so stoked to stall my Wendy's order for 10 minutes to reduce the price of my burger.
If wendy's is gonna be surging prices they better make sure I can pull tf out of the drive thru as soon as the surge happens.
I don’t know where you live but the Wendys where I live have curbs along the drive thru, so once you’re in that line you’re stuck until you get past the windows.
I stopped eating fast food because of the price hikes. I will pack string cheese and a water bottle and never go to Wendy's again.
Price surging is great when it´s like gasoline, everyone follows the price changes. When seeing high prices at Wendys you just goes next door.
The moment Wendy’s take away my 4 for $4 in my area, I’m never coming back.
Quite literally the only difference between the 4 for $4 and the $5 biggie bag is the extra patty in a double stack, and a slightly larger drink.
If you find an incompetent employee, they would give you the small drink instead of the kids size.
Alternatively, do dine-in for unlimited refills which negates the small cup.
I'll definitely pass by Wendy's next time.
I'm also paper hands... Sold at $52k... Guess hindsight is 20/20. But I made 40% so I don't feel too too bad 😂😂
I work as a contractor liason at Lowe's. I deal with the construction companies that ma,e high volume purchases and whatnot. The price of (for example) a 4x8 piece of 7/16 OSB has go e up from $14.28 to $17.55 in the last 2 weeks. I asked my supervisor why and he told me it was because of demand. 2 weeks ago I was asking him for advice on the best times to buy materials for my own home renovation projects and he told me it usually doesn't matter because prices usually stay the same throughout the year. Either he was just blowing smoke up my assets, for whatever reason, or Lowe's is following Wendy's example. As a result of these crazy price hikes we are now selling less than half the volume of materials as we were YoY. People are getting tired of the blatant profiteering. I'm hearing a whole lot of dissent and their money is where their mouths are.
I remember I was at work and ordered an uber for a 1 mile ride home (8$~) was 15$ because it's "during more active hours", waited a few minutes and it was back to normal, what a scam
One summer I worked really far from home in an area that was mainly warehouses. One of the only places close enough to walk for lunch was Wendy's, which was fun at first since it is/was my fav fast food place but I definitely got sick of it after the summer. Most days I brought what coins I could get my hands on and the change from my last Wendy's meal, I could usually got a combo but some days I only had enough for a fries. Surge Pricing would fuck me over so hard, so weird that it had to be Wendy's.
4:19 whoa they interviewed whodat that’s so awesome
Price increases over the years have astounded me… I am a general manager for a sonic location in Texas and I lose my mind sometimes when I look at the price for some of these peoples orders. Our bags of Ice used to sell for 99 cents just 3 years ago and now they are close to $4… even just our burgers and sandwiches are over priced… a regular cheese burger by itself is ~$7 and our chicken sandwich and toaster are close to $14…
That avast thing is kinda nuts
Like, we had those in Highschool on every computer, imagine the amount of data they ACTUALLY have
Fr. They were used on every computer (or any device that goes online) in my university. Talking thousands of different PCs with confidential info on like half
I appreciate the overcooked music during the Wendy's portion. 👏editor
I do wonder why governments don’t put caps on how much they can charge you for an item. Like “you can’t charge more than 55% of what you paid for the item” because I know a lot of stuff is getting charged for like 55-150%+ whatever they paid to acquire said items.
As a low volt technician who regularly contacts with Wendy's, I'll likely be part of installing these menu screens, but you can bet I'll never spend a dollar there ever again!😂
Why in the world did I have to use avast as my default browser on every device I own for like 2 years straight before watching this
Another thing with aus is that we FINALLY started a royal commission into price gouging from the big two grocers. It’s publishing the first of its findings soo and hopefully we can get some actual change from that
When the market consolidates into two players, I guess it's time to profit cap them, or break them up.
You can regionally break it up, or based on something else.
Kroger North and Kroger South or something like that yeah
Basically what happened to Venezuela is going to happen here, suddenly one Burger will cost $1,000, and most restaurants will go out of business because the price was just simply too fucking high, nobody can afford it.
lol. They really said “burgers being $15+ isn’t enough”
The thing with the grocery stores already happened in my city. We only had Albertsons and Safeway. They merged, and now we have two grocery stores that are owned by the same corporation literally across the street from each other, and no other major grocery stores within an hour drive.
I think that we should automate monopoly restrictions.
If someone is in a monopolistic position in a basics industry (food, housing, energy), they have like 5 years to cash out, but afterwards they get peofit capped, unless they find a way to split up. Either let go of a daughter firm, regionally split, or create a separate root company that must not compete with the companies that buy from them.
it's frustrating because things are just cast as different labels, so the dangers of the power of monopolies (which at some point was agreed on enough to pass laws) is also seen as the fruits of being "smart in business". gouging sounds bad if you're a buyer, but "the american dream" if you're a shareholder... it'd be nice if we all realized there's an optimum somewhere not at the extremes and set about trying to determine where they are in different times, industries, economic metrics because all these things change over time so if we decided what symptoms to aim or and avoid it can be tweaked periodically and not have to devolve into a tug of war but anchored in extreme ideals. yeah hearing about surge pricing for wendy's really puts me off going there..not just on principle but practically. since i don't drive why would i put the significant effort to travel to one just to see how much the prices are above normal and then decided i don't want to eat there and have wasted time and effort or determine it's barely tolerable and feel grumpy about my choice to eat there. is the surge money going into having significantly lower baseline prices? like 50 cents a burger + surge. it then becomes gambling and not something i want to do with limited time for lunch.
It's disgusting that Atrioc would call Woolies an abhorrent term such as "Woolworths"
To clarify, Wendy's will not implement surge pricing, which is the practice of raising prices when demand is highest. We didn't use that phrase, nor do we plan to implement that practice,” a spokesperson said in an email to NBC News. They added there are “no plans” to raise prices at high-demand times
Surge pricing is super unpopular in Australia, it's made a lot of people think twice about using Uber. It's like a slap in the fact.
This video impressively showcases a thorough exploration of the topic, demonstrating a remarkable depth of research and knowledge. Bravo
You better have watched ts live cause you could not have finished the video by the time you commented
Oh God bro... The bots no longer have NSFW profile pictures, now they're just pretending to be normal accounts. They're evolving
@@nebula8893 I watched the vod 💀💀
as a consumer if I dont know how much something is going to cost me I simply wont go
I don’t even buy delivery because I hate the idea of being forced to tip the driver. Fuck it I’ll save $10 and go get it my self.
I also avoid restaurants unless its a special group event. I can’t bring myself to overpay for food.
The only place I happily tip is at the barber/hairdresser and thats mostly because I feel bad for waiting a long time in between haircuts, and to reward a good job.
There's a local bar that does this where I live called "the Exchange", really cool concept for alcoholic drinks but horrible for every day food consumption. lol
The whole thing about Wendy's and other fast food is it's supposed to be cheap and fast. You know it isn't the greatest bang for your buck but sometimes you're running from a to b and don't have the time to sit down or didn't bring food with you. It's a convenient option. But if the price exceeds the perceived value (looking at you $18 big Mac) goes past the convenience and price, people will either go somewhere else or not go at all. Classic examples are airports and rural areas - I was hungry but I'm not paying $20 for a POS sandwich at the airport.
They lost my business for life just contemplating doing this. Especially considering I can hit a local place that’s better, cheaper, and doesn’t have designs to “surge price”
I can't believe Atriocs dad used Raytheon weapons on him
Wendy's hates me. I only every go to fast food when their apps have good coupons and buy cheap. Wendy's has had $1 Dave's singles and $2 Dave's doubles for a couple weeks in the app now.
I've spent about a half hour going to 3 different places near eachother to get a whole meal. One place has a $1 any size fry offer. Place next to it has a bogo burger and the minute market sells the fountain drink I want for half the price. Spend $8 in California for 2 large burgers, large fry and 44oz drink.
6:33 bro went from macro economy to mackerel economy
I heard this news and saw what they planned on doing and it immediately made me no longer want wendy's. At all. Like I used to only enjoy their chili and spicy chicken sandwich and wrap but this is literally just them testing the waters on how much they can rob people of their money because the people are just so dead and unaware to corporation greed.
If the worker at Wendy’s tells me my jr bacon cheeseburger is $9 I’m driving 2 minutes to McDonald’s
>stand in line
>wait to order
>11$ burger jumps up to 16$
>leave
Leave -> burger drops to $10.
This glarketer is quite smart.
Fun fact about Woolworths and Coles: they collectively have more pokie (slot machine) licenses than any other holder across Australia 🙃
This is most things. It's time to not allow them to take your money, make your own food & don't be afraid to go generic. Force them to lower the prices. The government and people alike have let this price gouging get out of hand by paying it.
Wendy's surge pricing plan only works in a world where Wendy's is the only hamburger restaurant open during lunch.
no, I'm sure they can do the math on how to not price people out of going there during lunch.
Nice job to the editor using “Whims of Fate” at the beginning when talking about the stock market being like a casino. 😂
Holy fuck warren buffet is sae nijima irl, if only she was 1 percent as hot as him
I work in IT for Wendy’s. We got an email the evening this happened from the CEO basically saying “The media is lying, we’ve never even CONSIDERED this.”
That doesn't really say anything. The fact aside that you're a random person claiming to be someone without really proving it (which you understandably can't really, being the internet and all) he himself could have been doing damage control, unless they make an official statement calling the media out and are willing to defend it they can be lying just as much as he claims the media is.
If the price goes up while I'm in line, I leave and likely won't ever come back.
The first time Wendy's tries to price surge me will be the last time I go to their restaurant...... the way prices are right now I already feel like I'm being gouged I'm not going back
you know the surge pricing sucked the first time i heard it, cause if someone tries to up charge me while i was in line im walking out, but as a former wendys employee that's fucking GOATED. You don't want to pay extra while we are clearly slammed with customers? good! please get the fuck out of the store!
Tooth fairy inflation is really hitting, I just lost a tooth and actually had to pay instead of receiving money
Wow this is worse than I was expecting - one of the only "good" things about the American economy is that you can expect prices will generally be the same tomorrow as they are today. Surge pricing, adding instability to this process - can only prove to be harmful to trust in the economy.
Not sure what's going on with the Wendy's thing other than just them having a terrible misunderstanding of human psychology. Stores basically do this anyway and always have... they set the initial price really high and then offer "discounts" that bring it back down to what it should be whenever sales are slow. Wendy's only looks bad because they suggested raising prices above the MSRP when demand is high, rather than having a high initial price and offering a discount to move product. And if enough people come in to take advantage of the low prices? Then at worst they have to pay full price. The fact is, people will freak out on you if they don't know upfront what the maximum they might have to pay is, they start imagining worst-case scenarios and paying $40 for a $20 meal. But they do appreciate an unexpected discount from that price if you can afford to offer it. If you don't believe me, try it yourself... tell someone an item costs $10 and then offer a limited-time discount to $6 during a period when sales are slow, and compare people's reaction if you start the price at $6 and then jack it up to $10 when sales are high. You'll see that they do not react the same way, even if logically they should and it amounts to the same thing. Uber is different because it's a service that requires whoever is available at the time to agree to do something for you rather than choosing to serve someone else, and also people who need an Uber often cannot afford to wait and don't have a lot of cheaper options that they have time to investigate. People who are considering buying Wendy's can go to any other fast food restaurant and possibly even choose to eat at home. Fast food costs are not nearly as dynamic as the Uber market. That is to say, it makes sense for an Uber driver to walk away from a transaction with a potential customer, because there is no sunk cost. But if you're in fast food, you have the ingredients, the salaries, you have to pay to have the whole thing setup regardless. With Uber, the driver can walk away from the transaction and lose nothing. With fast food, the restaurant is losing money with every unsold burger because that's already paid for and just went in the trash if no one bought it. Also, with Uber, people kind of see themselves as the employer and the platform as facilitating them hiring a driver. So they would if anything be pissed at the drivers for demanding more money, not at Uber as a whole. With Wendy's, people absolutely will blame the company for raising prices.
The $5 biggy bag just rose to $6 not very long ago. I eat there very frequently and this would be an incredible way for me to stop eating there and maybe just bringing home made lunches.
‘They are addicted to Water, 💦 we can’t give them too much’ - *Immortan Joe*
9:50
Meanwhile in Poland, two biggest grocery stores are fighting for the lowest price, which mean, some products are cheaper than production cost. It's funny to watch, shame it won't last for long
Bro I thought it was a fucking avast ad. I skipped through then realized the glaketor wouldn’t do that to us
Bruh if McDonald’s does surge pricing. Lord help us. Their food is already expensive imagine them upping the price?!?
Wendys used to have the 4 for $4 now at my Wendys, the biggie bag is now $8. Corporate greed will be their downfall and even though they didn't go through with the surge pricing, the fact that they even considered it tell will you all you need to know about what is important to them. Corporations do not care about the consumers, just the money we make them, just look at the Kelloggs controversy to see my point.
*Peak Demand Pricing:*
"Therefore market forces dictate that we raise our prices. In business school its called Supply and Demand"
-Lloyd Vickers
"Yeah, well in the real world thats called stickin it to people when they need us most!"
-Hank Hill
you know dynamic billboards can be used to so many financial advantages for the company. Like for example if there is a rush, take off all the hyper complicated shit off the menu and focus on your 3-4 ingredient items that get made in seconds. You could also surge the pricing of the more complex items and lower the price of the simpler ones to push people into buying those. These might be stupid ass ideas I have but nobody can deny they are INFINITELY smarter than single mother late to pick up her kids pay 30$
Look at the Canadian economy, we're so fucked rn. our grocery stores are ran by one dude and they raised prices like crazy.
Seeing the grocery store situation make me thankful for being an south east asian that lived with a lot of cheaper indian grocery store available everywhere at any proximity lmao, this is why in my country nobody really monopolized the market because there always someone out there selling for cheaper
The real nepo babies are the ones out here getting $1 per tooth. I only ever got a quarter.
They could have easily made surge pricing work if they worded it properly. Gaming already solved this, look at WoW rested bonus vs exp penalty for playing too long. Its exactly the same mechanically but the framing makes one acceptable. If Wendys just raised prices, then offered discounts for the 85% of the time they are slow... that would seem good.
that is how they're phrasing it
if i were another fast food company i would literaly start taking out loans to build a competitor across the street all over the nation and then impliment a program to lower the prices whenever wendy does surge pricing just to fuck with them
The last time I watched Marketing Monday was a few weeks ago and I still cannot believe this episode came out on a Monday!!!
As a brit, I appreciate you calling our fails now our country is on fire. I respect it.
Just too add onto the Australian stuff, we also have aldi and IGA but they're miniscule compared to woolworths and Coles. Also Coles well known phrase is "down down, prices are down" haven't seen that one in a few years, I wonder why?
"It is not possible to say who is worse. This persons actions have been criticized for being insensitive, while this persons actions led to the deaths of millions. Ultimately, it up to you to decide."
🤣
Lmaooooo at the SBF stories im crying over here 😂 hearing from a lot of friends about what jail/prison is like from them and then imagining SBF having to deal with jail house politics
Remember, Kmart and Blockbusters disappeared😂
I love the hint of “casino” vibe with the background music being Goomba’s Greedy Galla from MP4, great choice editor :)
11:56, today I bought a loaf of bread, 1L of lime cordial and 4 cans (4-pack not individual) of the cheapest energy drink you can buy (which for context is even cheaper than half-price Red Bull) and it cost me just shy of $27... The Coles-Woolworth duopoly is... "great".
A 4pack of red bull is about $50AUD not even kidding
Why not have the Wendy's employees dress up as croupiers and let you roll dice to determine how much you pay for breakfast? Kind of a "pre-crap shot".
I'm avoiding all these fast food places. I go occasionally, but I'll walk right back out if I see a baconator being sold for $12