According to data from QSR Magazine, fast-food menu prices in America rose by an average of 8% throughout the course of 2022. That rise is enough to have driven some people away from burger chains, but many actually saw an increase in sales for restaurants that raised prices.
While profit is always the goal of any business, most fast-food price hikes in recent quarters have been more about avoiding loss than about dramatically increasing revenues. Supply chain issues still linger and with inflation on the rise worldwide, it was inevitable that fast-food and chain restaurant prices would increase
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That said, the amount that prices went up at some burger chains is still surprising. No, it’s not your imagination, your Whopper, Dave’s Double, and Big Mac really did cost a lot more in 2022 than they did in 2021.
Here are 7 burger chains that raised prices the most in 2022.
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Burger King
According to the financial website Money Geek, Burger King was the burger chain that saw the most dramatic price increase of all the major chains, with a 21% increase when prices are averaged out in more than three dozen major markets. A meal that cost $6.76 at BK in 2021, cost $8.18 in 2022, for reference.
Wendy’s
A close second behind Burger King’s price increases in 2022 was America’s second-largest fast-food chain in terms of sales: Wendy’s. Per Money Geek, Wendy’s saw price increases of 18.9% in 2022 as supply chain issues lingered and inflation raged. Wendy’s was also found to be the most expensive among McDonald’s, Taco Bell, Burger King, Wendy’s, and Chick-fil-A.
McDonald’s
According to Restaurant Dive, McDonald’s hit customers with an approximate 10% price hike when you compare year-over-year prices for the third quarter of 2021 compared to the third quarter of 2022, the most recent period for which complete data is available. And there’s always a chance prices will edge up more in Q4, as well.
Jack in the Box
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Though known for low prices—as in two tacos for just 99 cents—Jack in the Box notably raised its pricing in 2022. According to Money Geek, the chain implemented price increases averaging 15.6% system-wide, which is a notable increase in what customers were compelled to shell out for burgers, sandwiches, Munchie Meals, and more.6254a4d1642c605c54bf1cab17d50f1e
Five Guys
Five Guys has always been one of the more expensive fast-food chains around, and hardly all that “fast” of a restaurant anyway. That noted customers were still outraged as prices at the burger chain ballooned over the course of 2022—even the cheapest normal-sized hamburger there now costs more than $10, and that’s sans fries, a drink, or anything else.
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Shake Shack
Shake Shack increased its menu prices in very controlled ways in 2022, according to Restaurant Dive. It raised prices on some menu items by as much as 10%, but on others increased rates by as little as 2%, following a general 3.5% price increase in the early spring. Watch out for more but smaller increases in Shake Shack prices next year, too.
Smashburger
Smashburger did increase prices in 2022, but only by single-digit percentages and not on every menu item. The chain kept its price hikes lower than others, according to Yahoo, by being highly efficient in supply chain logistics and corporate staffing management.
Source: https://t-tees.com
Category: WHY
