JUICER is bringing dynamic pricing to the restaurant industry. Together with their customers who operate more than 4,000 restaurants across the globe, JUICER is applying machine learning algorithms to help restaurants optimize their digital menu pricing. 

Carl is also the co-author of “Delivering the Digital Restaurant,” a book that explores the world of off premise food and the massive disruption facing American restaurants through first-hand accounts of restaurateurs, food industry veterans, and start up entrepreneurs.

Dynamic pricing in the restaurant industry can mean lowering prices to increase traffic during slow hours, increasing prices for specific menu items to reflect changes in ingredient costs, or increasing prices for all menu items during peak hours, peak days or peak seasons. The result is a pricing model that ensures the right time for each sales channel to optimize a restaurant’s profitability and the guest experience.

JUICER’s focus – for now – is on off-premise dynamic pricing, where the adjustment of prices is easler. On-premise dynamic pricing is more difficult (because of menus with fixed, printed prices) but will be more likely in the future. 

QUOTES

“What JUICER is trying to do is become a full-service solution. We take 12 months of transactional data, put that through our algorithm, come up with recommended prices based on different times of day, and then our team will implement those price changes.” (Carl) 

“Consumers today are already experiencing dynamic pricing on DoorDash and Uber Eats. The delivery prices will change. The challenge is, restaurants aren’t getting any of the upside of that dynamism.” (Carl) 

“The challenge of dynamic pricing as a term can be somewhat divisive. What we’re doing at JUICER is completely avoiding anything related to surge pricing. We’re talking about relatively small changes in prices that don’t cause a negative reaction. In many ways, the customer doesn’t even notice many of the price changes.” (Carl) 

“There’s only one Taylor Swift. In a marketplace, there are hundreds of other pizza places that you can go to.” (Carl) 

“The whole idea of delivering the digital restaurant is to help restaurants understand that they have to optimize their off-premise channel. It’s far more than just turning yourself on DoorDash or Uber Eats and letting those channels run themselves.” (Carl) 

TRANSCRIPT

00:00.41

vigorbranding

Everyone today I am joined by my new friend Carl Orsburn it’s oars burn or born say with me everyone um, all joking aside Carl. Thanks for taking time out of your day and your week hang out with me while you say hello and for those that don’t know you give a little bit of backstory.

00:17.53

Carl Orsbourn

Thanks! Thanks! Jo really good to be here and glad we get to spend a few few minutes together today. Um yes, I’m Carl Osborne I’m the co co-founder at juicer a dynamic pricing company for restaurants. But so. A lot of people know me from my first book that I wrote with Meredith Sandland delivering the digital restaurant that book became a bit of a bests selller and really um, cemented I think my kind of presence