New York bar to set menu prices like stocks

NEW YORK (Reuters) – What’s the value of a pint of beer? Let the market decide, says a new restaurant in Manhattan where prices for food and beverages will fluctuate like stock prices in increments according to demand.

The Exchange Bar & Grill, set amid the bustling shops and pubs of the Grammercy Park neighborhood, is replete with a ticker tape flashing menu prices in red lettering as demand forces them to fluctuate.

Customers can move prices for all beverages and bar snacks such as hot wings ($7 for 6 pieces) or fried calamari ($9). The prices will fluctuate in $.25 cent increments, but will most likely plateau at a $2 change in either direction.

A glass of Guinness starts at $6 but could be pushed to a high of $8 or a low of $4, depending on popularity.

So if one drink is in heavy demand, its price will rise, causing the cost of other equivalent drinks to drop. A rush on a particular beer would increase its price, and cause other beers to drop.

The Exchange Bar & Grill has a long bar facing the ticker tape — and flat screen televisions — as well as a few tables in the back where patrons can eat in greater comfort.

Restaurants in New York and across America have had a tough year because consumers have slashed discretionary spending in a tough economic climate. New York has about 23,000 restaurants, with about 4,400 opening each year according to the city’s Department of Health, which tracks establishment licenses.

Mobile Restaurant Ordering (Finally) Hits The App Store

In the last week, a pair of new iPhone applications have appeared on the App Store that put the menus of hundreds of restaurants at users’ fingertips. Dubbed GrubHub and CityMint, both applications allow users to order food on the go from online menus, buying entrees, appetizers, and drinks on the fly without the hassle of human interaction.

Our appetites were first whetted three weeks ago, when Chipotle released an official app that let users build their burritos from their iPhone. Unfortunately, the application was pulled down only a few hours after release as a throng of users overwhelmed the app’s servers. The Chipotle app is still missing in action, but these new offerings should be able to hold us over.

See the full article at TechCrunch.

Restaurant Lets Patrons Experiment With Flavors

Geschmackslabor, German for Flavor Lab, is a new restaurant located in a former school in Bremerhaven. The ‘lab’ part of the name doesn’t refer to molecular gastronomy or food served in test tubes. Experimentation at the restaurant is all about letting customers add flavor to their meals.

Dishes are served ready-to-eat, but diners are encouraged to enhance them by adding one or more of twenty custom-made seasoning oils that Geschmackslabor has on offer. The seasonings are all based on very pure olive oil, which is infused with flavors ranging from Arabica coffee and rosemary to papaya and coconut. Geschmackslabor’s menu suggests which seasonings go well with which dishes, but the whole point is for customers to experiment and find their own delicious combinations. The restaurant supplies plenty of bread for trying out different oils before adding them to food, allowing customers to sample a full range of spicy, sour, salty, sweet and bitter.

See the full article at InventorSpot via Springwise