Has your wallet been feeling a bit lighter than usual?
It probably isn’t just your imagination.
Everyone with bills to pay is well aware of howinflationhas skyrocketed this year.
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The fast food industry hasn’t been immune.
Fast food brands are attempting to preserve their bottom line without turning away customers.
That’s a tough task in any industry, let alone one predicated on saving consumers money.
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Mickey D’s reported an average U.S. price increase ofabout 10% year-over-year for Q3 2022.
That being said, some customers have absolutely noticed the price increases.
SomeMcDonald’s workers have reporteda major uptick in customer confrontations over prices this year.
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Interestingly, the iconic fast food brand isn’t all that worried about consumers seeking out cheaper options.
“We still have four for $4 on the menu.
We’ve got a $5 Biggie Bag that’s super compelling.
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We brought some cool things like Strawberry Frosty at a great price point to the calendar.
But then we also look at the relative consumer price points and competition in the market.”
Overall, those hikes increased brand-wide prices by .5%.
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He does not believe recent price hikes have harmed the chain’s reputation with consumers.
Things have stayed pretty consistent," he explained.
For instance, even add-ons like syrups and sauces aremore expensive todaythan just a few years ago.
Courtesy of Starbucks
“Their loyalty to Starbucks has been quite significant and predictable,” he said.
