The UK’s biggest pub chain has announced that they are to introduce a ‘dynamic pricing’ system that will raise drink prices during peak times. The Stonegate Group, which owns major chains such as the Slug & Lettuce and Yates’ have already trialled the system during events such as the world cup, but now plan to use the tactic on a regular basis.

The Guardian reports that the price of a pint of beer will increase by as much as 20p when demand is highest. The concept of dynamic pricing is already used in other sectors such as aviation, where plane tickets cost more during school holidays. It is a policy that helps businesses to manage their costs and stay competitive.

One of the biggest challenges to the dynamic pricing strategy is how to communicate price changes to customers in real time. Price can be influenced by multiple factors, including time of day, demand, stock inventory, and competitor pricing, and in a hospitality or retail venue it is difficult to update prices manually.

Digital signage is the ideal solution for dynamic pricing strategies. The LED screens can be linked to tills so that customers can see accurate price changes in real time on digital menu boards. This allows managers to respond instantly to fluctuating market conditions and ensure that the pricing strategy remains competitive at all times.

Multiple screens can be controlled from a central content management system that is programmable and can be easily updated via a user interface, either from a central location or at individual venues. The screens can be prominently displayed and customised to reflect the company branding, with adjustable font sizes, layouts, colours and images.

High quality digital screens with crisp clear displays allow a business to communicate with customers in an effective and eye catching way and maximise revenue.