Reservations, reinvented

The main difference between a fixed price system and a bidding system to book a table lies in how customers are charged for reserving a table at a restaurant or similar establishmen

Minimum spend:

• • In a fixed price system, the business sets a specific, non-negotiable price for reserving a space. This price is typically based on factors such as the day of the week, time of day, the size of the party, or the type of space (e.g., standard vs. a window seat).
  • Customers are informed of the price in advance and can book a space at the established rate. There is no haggling or bidding involved. The price remains constant, providing predictability for both the customer and the business.
• Bidding System:
  • In a bidding system, customers have the opportunity to place bids for a space. The business may have a minimum bid requirement, and customers can offer bids that exceed this minimum.
  • Customers essentially compete with each other by offering higher bids to secure a space for a specific date and time. The highest bidder wins the reservation.
  • The price for booking a space can vary based on customer demand and the bids submitted. It allows customers to potentially secure a reservation at a lower cost if they are the highest bidder, but it can also result in higher prices during peak times if multiple customers bid competitively.