Chicago-based Chowly, a digital ordering platform using POS systems, has launched Smart Pricing, a solution aimed to help small and medium-sized restaurants maximize digital ordering probability.
The new feature equips restaurants with the ability to optimize their off-premise ordering and streamline incoming orders with one click. This is done by looking at various factors in dayparts such as peak or slow periods, as well as weather and holidays, using AI machine learning to decide the best price at specific times.
These pricing strategies can be focused on specific platforms, like third-party marketplaces, or be all-inclusive of one’s off-premises ordering channels.
“As restaurant operators face profitability challenges due to external market conditions such as inflation, supply chain issues and delivery proliferation, Chowly is creatively solving these challenges by being the first of our competitors to introduce a dynamic, yet simple, pricing strategy as part of our core services,” said Sterling Douglass, co-founder and CEO of Chowly. “Our goal is to push beyond the status quo and level the playing field for SMB restaurants, and we’re proud to offer the same technology and analysis used by larger enterprises. With the click of a button, Smart Pricing empowers restaurateurs to maximize their digital ordering revenue potential through data-driven decision-making, helping them punch above their weight class.”
During its six-month beta testing phase of the Smart Pricing technology, Chowly says restaurant brands saw a daily increase of 9.4 percent in sales and an increased basket size of $1.11, or 38 percent total increase in profit for each order.
The announcement follows the company’s debut of its Restaurant Control Center, a centralized hub for integrations and consolidated data, and the acquisition of Koala, a guest experience platform that simplifies technology for restaurants.
The combined business now represents more than 3,000 restaurant brands in over 16,000 locations.
