Is Surge Pricing the New Normal

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Is surge pricing the new normal for us? I was just in the store just the other day and saw the small bags of chips, that use to be 25 cents. Now you can buy them for 2 for a dollar. I just looking on how the pricing has gone up. Not only that I was thinking about how normal crypto currency is becoming as well. I know everyone saw it as just a get rich quick thing for a little moment. But now it’s looking like it’s here to stay. Today its looking like this surge pricing is going to make its round now. Let’s get into it right now.

Surge Pricing Explained

Surge pricing is a pricing strategy used by companies to raise prices because they have an increase in demand and limited supplies.

The Surge

So, this strategy has been around some time now. It’s been used by what I like to call the ride companies. Those are your companies like Uber and Lyft. Where they will increase their prices when demand is high for them. But they will let you know that the surge is happening. This happens so you have the chance to decide if you want to pay more or wait till the price go down after a while. I never really paid this no mind because this never really mattered to me. Because I drive myself around. But now Wendy is trying it out now!

Now I like me some Wendy my friends. I eat there pretty regularly. So, this one hit home for me. Now when its lunch time hit the prices will be going up. Breakfast is going to be crazy as well. For example, an item that’s usually 2 bucks will be like 5 bucks now. Now I have to ask myself is Wendy that good to pay more for it. I can see this maybe working for me one way. If people are turned off by the over pricing, maybe they won’t come there. They’ll go hold someone else line up. And now I’ll be able to enjoy my food that much quicker. But this do give me a bit of a worry.

Where Does It Stop

Where will it stop? What industries are next to give this a try. Will ticket prices go up for movies on the weekends? Will rent go up if you sign a lease at a point in time a year? I know prices usually go up around tax time. But now will those prices go up even higher? I know hotels are using this strategy as well. It’s just crazy to me to think of how far this could go. But now I must ask.

Will It Work

Will people allow this strategy to work? Will people not mind paying more just because of the time of day. I don’t if I could see this working. Since I been in business it seems like people are always looking for deals and convenience. Maybe this strategy brings a little convenience. But I don’t see the deal it this. I really want to see if Wendy will make any real money doing this. I think they will lose money, but I’ve been wrong before.

Bonus

Today will be a day of information for us both with this bonus part of the post. I started my day with a ride to the airport dropping off a rental car. Made my way back home and started to look up some information that I was interested in. On my search for improvement because that’s all information does is help you improve. Long story longer, I came across a new way of business that’s really getting popular. It’s called DAO. Now until today, I had never heard about this. So, I wanted to share it with you that I have found out so far.

DOA

  Now this DAO stands for Decentralized Autonomous Organization. Sounds like something from the future, I know. It’s basically a way to automatically run your business using code. They say it’s an organization that is created to be automated and decentralized. It’s not affiliated with any particular nation-state, but it does make use of the ethereum network. They believe they could eliminate human error or manipulation of funds from investors by putting the decision-making power into the hands of the automated system with a crowdsourced process.

Example

  Now let me try and give you a relatable example for you guys. Say you have a vending machine business where you sell candy. Where the DAO system comes into play is when you start to run out of candy. The DAO will place an order on what part of your inventory is low and pay for it. So, it does run your business but not completely. Well not for this example. You will need to be there to place the candy inside the vending machine. Not that bad right? A world where Artificial intelligence and human can work hand and hand.

New Way

  This might turn out to be the new way of business my friends. Well maybe not completely in my opinion. I believe there is a place for it and how fast it’s growing it looks like it here for a while my friends. I myself just heard about this today but it seems like this was around a little in 2016. But was hacked by hackers who got a hold of 3.6 million ETH (Ethereum) worth about 50 million in 2016. So even though I’m late I’m still really new to this. This has really caught on like that today. We’re still in the first few stages of this new system.

  My friends the world is changing fast. When things start changing, we have to be able to adapt to this soon to be new way of life for us. With this being so new we have time to get familiar with it and learn have we can take it and make it work in our favor. I’m just at the tip of the iceberg with this. As I learn more, I will share it with you guys. I’m here to do my part my. If you want to speed up the learning. By all means, do your own research. And maybe you can come back in the comments and share it with the rest of us.

Summary

I don’t know what to make of this. I will be paying a lot of attention to this as time goes on. including the bonus part of this post today. Because I know one thing will come from this. The hustlers will take average of this. They might lower their prices when the peak hours hit. All they have to do is be fast. Again, the more people you can serve the more money you can make. I’ll have an update on this post for you guys in the future I just wanted to give me thoughts on this. So, thanks for your time and the visit. Hopefully you stuck around long enough to read the bonus part of the post as well. If so, I hope that was useful. Please come again and tell your friends about the blog as well. Good luck out there!