Mastodawn

MicroWave May 12, 2024

Americans are choking on surging fast-food prices. "I can't justify the expense," one customer says

Americans are choking on surging fast-food prices. "I can't justify the expense," one customer says - Lemmy.World

Kevin Roberts remembers when he could get a bacon cheeseburger, fries and a drink from Five Guys for $10. But that was years ago. When the Virginia high school teacher recently visited the fast-food chain, the food alone without a beverage cost double that amount. Roberts, 38, now only gets fast food “as a rare treat,” he told CBS MoneyWatch. “Nothing has made me cook at home more than fast-food prices.” Roberts is hardly alone. Many consumers are expressing frustration at the surge in fast-food prices, which are starting to scare off budget-conscious customers. A January poll [https://www.revenuemanage.com/wp-content/uploads/2024/02/Feb24-RMS-RestaurantConsumers-General.pdf] by consulting firm Revenue Management Solutions found that about 25% of people who make under $50,000 were cutting back on fast food, pointing to cost as a concern.

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LostWanderer May 12, 2024

That’s pure greed at this point…Jimmy John’s is still well in an affordable range. As a rule, I tend to avoid buying food from places with surge pricing as fast food is supposed to be affordable! It’s not fine dining and as a result should be priced appropriately; they’ve forgotten their role in the food space and thus their business will live or die based on future choices.

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credo May 12, 2024

Fast food was affordable because they paid sweat shop wages. That’s not the case anymore. In any event… I would argue with the “supposed to be” affordable comment. Just because it was doesn’t mean it’s supposed to be. As far as I’m concerned this can only be good for the health of the public- when fast food prices are at least comparable in price to healthy options.

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tburkhol

2023, McDonald’s net income $8.5B on $25B revenue, or 34% net profit margin. 2009 net income $4.5B on $23B revenue. 20% profit margin.

Over the time period that you picked, their profits - the money that they don’t pay to either workers or farmers - nearly tripled as revenues barely changed.