If you like to eat out, a website called Savored.com offers great deals at premier restaurants by using yield management techniques.
It seems like everywhere you turn there are restaurant deals. You have sites like Restaurant.com that offer significant discounts via gift certificates. Then there are also a variety of “deal a day” such as Groupon, LivingSocial, Plum and ScoutMob that offer great savings.
The Internet now makes it possible for Savored.com to get into the market with its unique business model.
Say an eatery knows they have a lull in business every Wednesday at 5 p.m. or every Saturday at 8 p.m. or what have you. The restaurateur can then work with Savored to make limited reservations available when they want. The typical discount amounts to 30 percent. No coupon is necessary. You simply have to book your discounted reservation through Savored.
That’s the idea behind dynamic demand pricing (aka yield management). This business model is similar to what airlines do when they offer sales on seats based on demand.
Savored is only available in major metro areas at this time. That includes Atlanta, Boston, Chicago, Denver, Los Angeles, Miami, New York City, Philadelphia, San Francisco, and Washington, D.C.