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Fast food used to be largely accessible to most people, but considering the fact that 70% of low-income consumers are having a hard time making ends meet, and 78% of Americans now consider fast food to be a luxury, it's not surprising that it's becoming less and less popular, especially among low-income consumers. So what will it take to fix the perception problem fast food is facing? Menus with "premium" and "value" options? Unique loyalty programs? Unbeatable discounts? I don't think there's any easy answer, and it will take many concerted efforts and an industry-wide push to win over consumers again. #FastFood #QSRs #RestaurantTrends #Restaurants

In a recent piece by Restaurant Business Online, nearly 80% of Americans now view fast food as a luxury due to escalating prices. This paradigm shift calls into question the long-standing value proposition of fast-food chains and suggests a critical juncture for reassessing pricing strategies and value offerings. Perhaps it's time for the industry to innovate around affordability and transparency to reclaim the essence of "fast food." #FoodIndustryInnovation #ConsumerTrends #PricingStrategy

I just figured out why so many people talk about the increasing cost of living....(I rarely eat out). According to a recent report by Visual Capitalist, inflation has been hitting hard on our favorite fast-food chains over the past decade. Here are some key findings: - The average cost of dining at these restaurants has increased by 63% since 2014 ?? - McDonald’s leads with prices doubling since 2014 ???? - Subway and Starbucks were the only chains with average price increases lower than overall food away-from-home inflation. As costs continue to rise, we're all feeling the pinch. Even quick and affordable meals are becoming less so. #Inflation #FastFood #Economy

$18 for a Big Mac Meal – I am not sure Grimace could even afford that ? That is the reality at select McDonald’s locations in the Northeast, and consumers are not happy about it. The average price of a Big Mac in the U.S. was $4.39 in 2019. ? So what can these companies do about it? Are value meals the secret weapon to win back customers in a time of rising prices? ? With the rise of inflation, fast food prices are up 4.8%?(officially)?from last year. Fast food giants such as SONIC Drive-In, McDonald's, Taco Bell, and more have recently focused their strategy on?affordability for consumers by rolling out value meals, hoping to entice customers back into their restaurants. In a recent conversation with The Food Institute, I discussed how these promotions might initially draw in customers, however, it's important to recognize that they may not foster long-term loyalty. I also noted, "In an environment where almost all fast-food chains are launching new value menus, these ‘loss leader’ offerings seem unlikely to drive additional market share." ? Read the full article here: https://lnkd.in/gfCkZQxU ? #FastFood #QSR #ValueMeals #CustomerLoyalty #RestaurantStrategy #ConsumerBehavior #FoodIndustry

The rise of the fakeaway: The popularity of restaurants’ fakeaway options such as Franco Manca pizzas, Gourmet Burger Kitchen burgers and itsu meals has soared over the past year, according to online supermarket Ocado Retail. Ocado reports over 50% growth in sales for brands like itsu and Franco Manca. Products from popular restaurants or fast food brands are increasingly common in most major supermarkets. The rise of the fakeaways trend is largely a result of the cost-of-living crisis, which led many consumers to seek out more budget-friendly ways to enjoy a treat at home,” says Chitnis. The research found that three-quarters (75%) of Brits were now more conscious of spending on takeaways and meals than last year. This changing consumer habit is reflected in Ocado Retail delivery data, which suggests customers seek restaurant standards at home, particularly on weekends. Demand for these products peaks at times when shoppers would have traditionally gone for a restaurant meal out or ordered a takeaway.

???? Fast food vs. eating at home: What restaurants are the most affordable? ???? Leveraging a survey of over 2,000 verified limited-service restaurant (LSR) guests across consumer income levels, Numerator gauged consumer sentiment and intent to increase or decrease LSR spend in the coming months. Here’s what we learned: ? Across consumer income groups, the LSRs that consumers find to be less affordable than groceries are Starbucks (49%), Subway (49%), and Chick-fil-A (44%). ?? Across consumer income groups, the LSRs that consumers consider to be more affordable than groceries are Taco Bell (17%), McDonald’s (16%), and Domino’s (14%). ?? Chains that overindex with low income guests include Little Caesars Pizza (guests are 29% more likely to be low income), KFC (16% more likely), Jack in the Box (15% more likely), Burger King (12% more likely), and Pizza Hut (9% more likely). ?? Chains that overindex with high income guests include Jimmy Johns (guests are 27% more likely to be high income), Jersey Mike’s Subs (25% more likely), Five Guys (23% more likely), Chipotle (22% more likely), and Panera Brand (21% more likely). Read the report: https://bit.ly/3UZfF57 #Numerator #fastfood #MealDeals #LSR #QSR #restaurant #consumersurvey

What really stood out to me about this article is the idea of "Tipping fatigue" and how it has aggravated challenges in the food service space. We've all noticed that QSRs and coffee shops now frequently ask if we want to tip 20%, 22%, or even 25% at checkout. This raises an interesting question: Is this trend a result of consumer psychology being leveraged by technology to inflate sales, or does it reflect the true cost of food services today? I believe it's a mix of both, with a lean towards the latter. Employing and retaining skilled, enthusiastic staff is a significant operational challenge. In coffee shops, for instance, baristas are highly skilled positions. As an amateur barista myself, I understand how challenging it is to pull a perfect espresso shot, let alone do it hundreds of times a day. This shift in tipping practices may signal that out-of-home food costs are adjusting to what they should be. This will undoubtedly influence consumer spending decisions, which is necessary for a balanced ecosystem. Ideally, this leads to more sustainable profits for outstanding restaurants and increased consumer interest in CPG companies like ours that bring restaurant-quality options into home kitchens. #CPG #TippingFatigue #ConsumerPreferences #FoodAndBeverage

Are fast food “value meals” really still a value? McDonald’s recently rolled out a $5 Meal Deal in an effort to win back customers amid rising menu prices. With the deal offering a sandwich, small fries, nuggets, and a drink, it seems like a bargain. But is it enough to counter the frustration many feel over price hikes that outpace inflation? In my latest analysis, I explore whether this promotion is too little, too late. As more consumers opt to cook at home or seek cheaper alternatives, are fast food giants like McDonald’s risking long-term loyalty by prioritizing profit over value? Check out the full article to see whether corporate greed is pushing customers away for good. #McDonalds #MarketingAnalysis #ConsumerBehavior #BrandLoyalty #CorporateGreed #Advertising #FastFood #MarketingStrategy https://lnkd.in/gRXfZDj2

On average fast food prices im the U.S.increased by 67% since 2014, with McDonalds prices doubled, decreasing foot traffic and same store revenues as a consequence. For sure Fast Food is not only unhealthy and no longer a cheap dining option, when it costs 55 USD to feed a family of 4 at lunch.

We launched the results of a recent survey this week that explores how the digital experience plays a key role in UK consumers’ perceptions of quick restaurant service brands. For this report, we surveyed 2,000 UK consumers across all ages 18+, genders, and races to reveal how economic and cultural events shape their ordering behaviours, preferences for digital channels, and the key motivations behind choosing third-party platforms versus branded experiences. A few noteworthy findings include: - Nearly three-quarters (74%) of UK consumers use an app or website for one to two on-the-go meals or beverages per week - 59% report eating 1 or 2 quick-service/fast food, fast casual, or cafe-style meals/beverages outside the home in a typical week - 82% think a food or beverage brand’s digital experience reflects its overall quality, with 93% agreeing that the best brands usually have either a good app or website in place. If you’re interested, we’d be happy to schedule a meeting with Melissa Minkow, CI&T’s Director, Retail Strategy, who can delve into the data and the latest food & beverage and retail trends with you and your team. We hope you enjoy it!