In 1999, the Coca-Cola Company tested a vending machine that automatically raised prices in hot weather.
The Coca-Cola Company has always been one for innovation. You might remember the relatively recent bottles that automatically chilled the Coke when turned upside down. Back in 1999, it was revealed that technology to raise prices according to the heat was something Coca-Cola had been working on for a while.
The rationale, according to the company’s chairman, was that the desire for a cold drink increases during the heat, and that with rising demand it is fair to raise prices. The technology accompanying the idea is fairly simple, involving only a basic temperature sensor and computer chip.
Ideally, such technology would have been beneficial for more than just spiking prices during times of high demand. It was suggested that lowering prices during times of less traffic would boost sales- something that the technology would enable. Evidently, this technology didn’t see the light of day.