Thursday, January 13, 2011

Pay what you wish

Panera Bread has announced that it is opening its third "pay-what-you-wish" restaurant, this one in Portland, Oregon.  Under this fascinating business model, run by Panera's charitable organization, customers are invited to pay a suggested price for their food, but they can pay less or more.  According to this article about the program, about 20% of customers pay more than the suggested amount, 20% pay less, and 60% pay what is suggested.

It is part of their "Community Cafe" program.  I like this quote:

"In some ways it is a test for humanity," said Ron Shaich, founder of Panera who launched the concept for the company. "Will people step up and help each other or will they take advantage?"

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