Restaurants already offer happy hour and off day incentives. That’s nothing new. The problem here is the attitude. Raising prices will decrease demand, but they know they have excess demand, so they’re making up for that by increasing the prices to eat up that excess demand. Restaurants used to deal with that by hiring more employees to increase supply to meet the unmet demand. There is obviously a complete lack of desire to do that. You can walk into any chain restaurant these fays and you’re likely to see a wait for a table, even though the restaurant is less than half full. It’s not that they can’t meet the demand. They’ve decided it’s more profitable and easier to eat up the excess demand by increasing the prices instead of increasing the supply.
Restaurants already offer happy hour and off day incentives. That’s nothing new. The problem here is the attitude. Raising prices will decrease demand, but they know they have excess demand, so they’re making up for that by increasing the prices to eat up that excess demand. Restaurants used to deal with that by hiring more employees to increase supply to meet the unmet demand. There is obviously a complete lack of desire to do that. You can walk into any chain restaurant these fays and you’re likely to see a wait for a table, even though the restaurant is less than half full. It’s not that they can’t meet the demand. They’ve decided it’s more profitable and easier to eat up the excess demand by increasing the prices instead of increasing the supply.