A group of friends were left baffled when they saw 'MKT' on their restaurant bill, and it seems they're not the only ones confused by the common menu pricing abbreviation. A viral TikTok video posted by user @aribella_menold, which racked up more than 2.2 million views, shows a receipt totaling $159.14 (£118) for three diners after a steak dinner, with the caption 'POV: You didn't know what 'MKT' meant on the steak menu and now you're paying for it.'
What Does 'MKT' Mean on a Bill?
Hospitality payment specialists at Dojo explained that 'MKT' (or 'MP') stands for 'market price.' This indicates the price of the item is not fixed and will fluctuate depending on the current market rate. You're most likely to encounter MKT on items such as seafood, premium meat cuts, seasonal fruit and vegetables, and imported produce. Dojo shared: 'When MKT (or MP) is printed on a restaurant menu or receipt, it means market price. Listing items as MKT allows restaurants to adjust pricing in line with their cost without reprinting menus.'
Who Is Responsible for Explaining MKT Pricing?
The viral TikTok ignited a heated debate in the comments section over who bears ultimate responsibility when MKT pricing leaves diners scratching their heads. One commenter wrote: 'Honestly, shame on your server for not informing you of the price when it's clearly not listed.' Another countered: '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.' A third added: 'I looked up market value once and then asked the price. It was like double what Google told me.'
The experts at Dojo advised: 'In these situations, transparency from both sides is key. It's likely the server assumed the customer was familiar with the pricing or would ask if unsure. To avoid confusion, diners should feel comfortable asking for clarification on any MKT priced items. 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.'
