THREE diners were dumbfounded after a nice family meal out quickly turned confusing once their bill was delivered to the table, which was significantly more costly than they had anticipated.
With the girls’ dinner total at nearly $160, experts have cautioned diners to look out for the abbreviation “MKT,” explaining its meaning and who was at fault for the hefty bill.
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This kind of bill shock is becoming a greater concern for many.
Dining at a restaurant is an ideal way to treat yourself, although with high inflation tacking on extra to your dinner bill, eating out can be a costly endeavor.
As general inflation takes a toll on diners’ wallets, new unexpected fees and charges are even more painful.
For example, one restaurant guest spotted an 18% living wage fee added on to his bill, while other diners raged over their “ludicrously overpriced” meal after they were charged a 5% container fee and 3% kitchen cost.
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Content creator Aribella Menold (@aribella_menold) spotted yet another sneaky tactic that restaurants use to spike your bill total, sparking a social media frenzy last month with her viral TikTok video.
“POV: You didn’t know what ‘mkt’ meant on the steak menu and now you’re paying for it,” reads the text overlay of the video, which has since garnered over 3.3 million views and hundreds of comments.
In the short clip, Menold zoomed in on her receipt, showing that the table had ordered two 12-ounce local New York strip steaks for $52 each, among other menu items.
The girls were shocked that the steaks, which brought the bill total up to $159.14 for three people, was so pricey.
TikTok users flooded the comments section, similarly confused at why their meal had come out to so much, asking, “What does MKT mean?”
The three-letter abbreviation has also sparked confusion among Americans, with Google seeing a 197% increase in searches for “What is MTK” over the past month, with 21,000 searches in total.
To help clear up the confusion, The U.S. Sun spoke exclusively with hospitality payment experts at Dojo, a UK-based card payment provider.
The experts have dished out the details on the abbreviation, explaining the party responsible for disclosing it and sharing the menu items that commonly have this special pricing.
WHAT DOES ‘MKT’ MEAN?
The abbreviation MKT is an indication that diners should pay extra attention, according to the hospitality payment experts at Dojo.
“When MKT, or MP, is printed on a restaurant menu or receipt, it means ‘market price,’” they explained.
The abbreviation alerts diners that the price of a menu item is not fixed and will fluctuate based on the current market rate.
“Listing items on menus as ‘MKT’ allows restaurants to adjust their pricing in line with their cost, without reprinting menus,” said the experts.
Menu items that are commonly sold at market price include seafood, premium cuts of meat, seasonal produce, and ingredients imported from other countries.
Items frequently listed as MKT
- Seafood: Due to the fishing seasons, fresh fish like lobsters, crabs, and oysters are often marked as MKT.
- Prime meat cuts: Meats such as steak, especially when it comes to premium cuts, can fluctuate in price depending on factors such as supply, demand, and seasonal availability.
- Seasonal fruits and vegetables: Depending on their availability and whether they are in season, specific fruits and vegetables – such as berries and mushrooms – can result in dishes that are made with them being market-priced.
- Imported ingredients: Items that often require importation, like caviar or truffles, can be market price due to global fluctuations.
Source: Dojo
WHO IS AT FAULT?
Menold’s viral TikTok video not only sparked confusion over the “MKT” abbreviation frequently found on menus, but also led to a debate in the comments section.
TikTok users had mixed opinions on whether the girls or their waiter were ultimately responsible for the table’s surprisingly expensive bill.
One commenter defended the diners, writing: “Honestly, shame on your server for not informing you of the price when it’s clearly not listed.
“One complaint and all of my old bosses would have ripped me a new one for not informing the guest and probably make me pay out of pocket for it.”
Listing items on menus as ‘MKT’ allows restaurants to adjust their pricing in line with their cost, without reprinting menus.”
Hospitality Payment Experts
Other users blamed the customers for not inquiring about what “MKT” meant before ordering the steaks.
“I have never been anywhere where they told you the cost upfront unless you asked… It’s totally the customer’s fault for not asking when there is NO PRICE LISTED,” said one commenter.
EXPERT OPINION
The hospitality payment experts at Dojo chimed in, arguing that transparency from both parties is key when it comes to situations like these.
They noted that the server likely assumed that the diners were familiar with the pricing or would have asked if they were unsure.
“To avoid confusion, diners should feel comfortable asking for clarification on any ‘MKT’ priced items,” said the experts.
“Equally, it’s good practice for servers to offer a prompt, such as: ‘Just to note, I can provide today’s price for any items listed as MKT upon request.'”
Know Your Rights: the rules on menu pricing
The experts at Dojo explain that consumer protection principles require transparent pricing, which includes “MKT” items. Here’s what you should know:
- Clarity is Key: State and local regulations often require menu prices to be clearly and accurately listed. This should include all mandatory charges, though sales tax is typically added at the end.
- Staff Should Be Proactive: Staff should be trained to alert you to market-price items, explain the price variability, and confirm the exact cost when you order.
- Consumer Protection Laws Apply: While there isn’t a single federal law for menu pricing, the Federal Trade Commission prohibits deceptive practices. Hiding a price with the intent to surprise a customer could be considered a deceptive practice under federal or state law.
- It’s About Fair Business: Consumer advocates stress that when businesses fail to display prices accurately, it undermines trust. Full transparency is essential for fair competition.
Aside from ensuring the guest is aware of pricing before confirming their order, the experts noted that restaurants could enhance transparency by implementing other practical solutions such as displaying the pricing per weight on special boards.
“Providing a daily or weekly update on market-priced items using chalkboards or digital displays, including price per weight, can help customers make informed decisions,” they said.
They also emphasized the importance of clear menu annotations, noting that menus should include a brief explanation of what abbreviations like “MKT” or “MP” mean to prevent confusion.
Outside of the restaurant scene, consumers are feeling the pangs of high prices in their wallets.
For example, a Walmart employee uncovered an “insane” 100% price increase on a dinner staple – and it happened overnight.
Meanwhile, Amazon quietly raised costs on 1,200 of the “cheapest household goods” – but shoppers can get the same items at Walmart for 2% less.
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