The Stock Exchange..will it help?

gaz wac

Just wondering what people thoughts are on this new idea?

A brand new concept in after work drinks, very simple and works similar to the global stock exchange .
The more a product is invested in, the higher the price will rise, causing other brands to drop .
For example if everyone buys Heineken for 10 mins then the cost of Carlsberg will decrease .
If the bar goes very slow the market will crash dropping all drinks to 2.50 euro .
Items are displayed on our screens and prices are in real time with out our till systems .
Beat that for value and its great fun to play for large groups of people . "

I suspose its a good gimick to get people in the door. My only thoughts are:

Are people really going to mix their beers, just because it is cheaper?

If im on Carlsberg...im on it for the night, no matter what price it is! but then this line stuck out.. "The more a product is invested in, the higher the price will rise".. I take it they will be sensible with their prices so we're not paying €5.20 for i pint!

Good idea if your open to drinking whatever is cheapest on the menu

Cheers

BeerNut

gaz wac wrote: »

Good idea if your open to drinking whatever is cheapest on the menu

Which, for reasons I've never quite understood, Irish people will do in an off licence but not a pub.

Aside from the practicalities from the drinkers' point of view, the suppliers are unlikely to permit the bar to set any real level of price flexibility for fear of their brand becoming devalued. They didn't get their near-full-spectrum dominance in the on-trade by tolerating free market practices

gaz wac

I wonder if we're talking about a 20 cent price difference on either side of an all ready over priced beer

Dont really know the pub in question...dont know if I was allowed post)

bohsfan

Been to a pub that was doing this recently. The prices never went up above what they would ordinarily sell for. But if a drink wasn't being bought for ages it would 'crash' and you could get a good deal. It was really quiet the night I was in there though so the lower priced drinks just stayed that way. So, I was able to keep drinking Becks for €3 a pint.

There are doubts about the legality of this kind of promotion though... A bar in Waterford was recently stopped from doing it.

gaz wac

I was in The Vaults a few weeks back and we were getting " buy on, get one free"..how is that legal and this is not ?

BeerNut

I doubt the stock exchange thing is legal. Irish law forbids a reduction in drink price during the day's trading. There's no specific law against BOGOF*, presumably as long as it's all day, since it would effectively be halving the price of a pint if introduced after opening time.

*Yet, though the 2008 Intoxicating Liquor Act allows the Minister for Justice to create one.

rubadub

BeerNut wrote: »

I doubt the stock exchange thing is legal. Irish law forbids a reduction in drink price during the day's trading.

Yep, the price can only go up, like they do after 11 in some pubs. They can still in effect have happy hours by opening at 5pm and upping the price at 6 or 7pm. Another loophole would be to open at noon but mysteriously be out of stock of a particular drink until 5pm and then run out at 6 or 7pm again.

Which, for reasons I've never quite understood, Irish people will do in an off licence but not a pub.

And many automatically regard cheaper beers as muck, yet when heineken is going for €1 a bottle they think it is still a quality/premium beer -instead of asking WTF were they paying so much for the crap for the last 20 years. In a blind test they would probably not tell the difference anyway.

I have said before I believe beamish would sell more if they actually increased their price, I have seen people slagged for drinking it, including myself, there is a stigma that it is a cheapskate drink. I know seasoned guinness drinkers who have never even tried it, and they would ask me WTF are you drinking beamish or murphys when you can get "real" guinness :rolleyes:

You might also have legal issues with the obligatory price list, dunno what happens in pubs that charge more after a certain hour.

BeerNut

rubadub wrote: »

dunno what happens in pubs that charge more after a certain hour.

They are obliged to list all of the prices at which the drink is sold. Arguing that displaying the maximum and minimum stock exchange price meets the letter of the law would doubtless be a fun, but expensive, day in court for all the family.

Coillte_Bhoy

bohsfan wrote: »

Been to a pub that was doing this recently. The prices never went up above what they would ordinarily sell for. But if a drink wasn't being bought for ages it would 'crash' and you could get a good deal. It was really quiet the night I was in there though so the lower priced drinks just stayed that way. So, I was able to keep drinking Becks for €3 a pint.

There are doubts about the legality of this kind of promotion though... A bar in Waterford was recently stopped from doing it.

They weren't STOPPED from waht i read. Just that they contravened the meas code which afaik has no legal status.

the beer revolu

The Stock Exchange..will it help?

Simple answer: No.