A group of Gen Z diners had quite the eye-opening experience with menu pricing after ordering a steak marked “MKT.” A TikTok video by a young woman named Aribella Menold, posted in June, details the surprising incident that took place while she was out dining in North Carolina with her brother. She ended up ordering two of those steaks.
Their final bill totaled $159, which included a 3% surcharge for using a credit card and a 6.75% sales tax. The shocking part? Each 12-ounce New York strip steak was priced at $52. In addition to the steaks, they had a kale salad for $28, $11 for grilled chicken, and a $10 grilled cheese for the kids.
Menold captioned her video with the words, “POV: I didn’t know what ‘MKT’ meant on the steak menu, so now I’m paying for it.” She mentioned in a conversation that she thought those steaks would be around $20 or $30. “Our grandpa covered the cost. It was really sweet of him,” the 20-year-old college student reflected.
Listeners responded to Menold’s TikTok video with a mix of sympathy and criticism. For example, one viewer who seemed budget-conscious remarked on the $11 charge for grilled chicken, saying it was excessive. Another added, “If you have to ask the market price, you probably can’t afford it.” However, many Gen Z users also expressed confusion about what “MKT” even meant.
One viewer humorously suggested that “MKT” indicated a scam, allowing restaurants to set whatever price they wished. Yet the question remained: is “market pricing” a trick or a necessity for restaurants to accommodate fluctuating ingredient costs?
Hal Lawlor, the chief operating officer of Smokey Bones, a popular casual dining chain, discussed the reasoning behind market pricing. He explained that since prices and sizes of premium items can vary throughout the year due to seasonal availability and demand, some restaurants opt for this pricing strategy to reflect those changes.
Lawlor advised that diners shouldn’t feel hesitant to ask servers about the prices of items labeled as market price. “At our establishments, we ensure that our servers inform guests about the prices upfront, eliminating any surprises on the bill,” he stated.
