What Strategies Some Bars are Using to Increase Prices
August 11, 2014
You may think that lower prices are always a good thing. After all, aren’t your customers looking for a deal? If you can offer them the cheapest drinks, doesn’t it follow that you’ll have customers to flocking to your bar?
Not necessarily! The truth is, lower prices aren’t always better for business. In fact, you might find that you can absolutely charge higher prices without turning away any customers. But how? Read on to find out about the strategies some bars are using to increase prices—and then you might want to do the same thing!
Focus on quality.
Yes, there will always be customers who are just after the cheapest beer you can sell them. But, when you focus on high quality, you’ll be able to raise prices and your customers won’t even blink. For example, restaurants in the fast-casual category are able to raise prices because customers expect to receive high quality meals. If you can deliver drinks that are better than your competitors’, a price increase is probably justified.