“We will not be implementing surge pricing,” says a Wendy's spokesperson.

Prices for Wendy's menu items may fluctuate based on time, location and order.

In mid-February, Kirk Tanner, the new CEO and president of Wendy's, told analysts that they would roll out new plans to improve the company's bottom line, including digital menu boards that will be able to more easily change the prices of items, as well as testing dynamic pricing and daypart offerings. , according to Nation Restaurant News.

Tanner explained that they plan to invest about $20 million “to roll out digital menu boards in all US company-operated restaurants by the end of 2025 and about $10 million over the next two years to support digital menu board improvements to the global system.”

Digital signage aims to improve order accuracy and increase sales by upselling certain menu items.

By 2025, the fast food chain will begin testing dynamic pricing, a time-based pricing strategy that companies use to increase or decrease the prices of their services or items depending on time and demand.

Despite initial comparison in the media (including here on TODAY.com) to the concept of “surge pricing” on the Uber app when prices rise as drivers become scarce, Wendy's explained how the company plans to use “dynamic pricing” in a statement on February 27.

“To be clear, Wendy's will not implement surge pricing, which is the practice of raising prices when demand is at its highest. We have not used this phrase, nor do we plan to implement this practice,” a Wendy's spokesperson said in an email to NBC News. They added that there is no “Plan” to raise prices during times of high demand.

“We said that these (digital) menu boards would give us more flexibility to change the offering of featured items. This has been misinterpreted in some media reports as an intention to raise prices when demand is at its highest in our restaurants. We have no plans to do so,” the 26 statement said. February: “We will not raise prices when our customers visit us more often.” “Any features we may test in the future will be designed to benefit our customers and restaurant staff. “Digital menu boards can allow us to change menu offerings at different times of the day and offer discounts and value offers to our customers more easily, especially at slower times of the day.”

A Wendy's spokesperson initially confirmed the digital menus, as well as dynamic pricing, in a Feb. 26 statement to TODAY.com, citing the company's future ability to change prices at different times of the day. The initial statement did not mention that the fast food chain would only lower prices through the new “dynamic pricing” model.

“As previously mentioned, we are making a significant investment to accelerate our digital business. In addition to developing our loyalty program, we are leveraging technology further by rolling out digital menu boards in some U.S. restaurants. “Beginning in 2025, we will begin testing a variety of Enhanced features on these digital menu boards such as dynamic pricing, different offers at certain parts of the day, AI-powered menu changes, and suggested selling based on factors like weather.”

The statement adds, “Dynamic pricing can allow Wendy's to be competitive and flexible on pricing, incentivize customers to visit and provide them with the food they love at a great value. We will test a number of features that we believe will provide an improved customer and crew experience.”

In the meeting with analysts, Tanner noted that they have already rolled out “Wendy's Fresh AI” in several restaurants, “where we see continued improvement in speed and accuracy.”

Digital menus will help reflect fluctuating prices throughout the day. Tanner said the new launches “will play a key role in our restaurant team, enabling the crew to focus on what matters: preparing fresh, high-quality Wendy's favorites and building relationships with customers to keep them coming back again and again.”

Back in 2023, NBC's Sam Brock told TODAY that dynamic pricing was creeping into restaurants, movie theaters, bowling alleys and more.

“Experts say more companies are tracking consumer spending habits to determine when and even what to charge more,” Brock said, adding that to avoid dynamic pricing, check online for promo codes, discounts, loyalty programs and more.

In addition, the company will also invest more money to advertise new breakfast menu offerings, the CEO told analysts. They recently teamed up with Cinnabon for a new breakfast item and added two additional breakfast offerings: English muffin sandwiches and breakfast burritos.

According to Nation's Restaurant News, the company is also testing “fried bits” in flavors like roasted honey, buffalo, garlic parmesan, and ghost pepper in a small number of restaurants in Ohio.

Editor's note (February 27, 2024 at 8:30 PM PT): This story has been updated with a clarification from Wendy's that “dynamic pricing” will not include price increases at times of high traffic.