Burgers are often thought of as being more affordable than other menu items, but as prices continue to rise at a faster rate than the average entree, this view may start shifting, it has been predicted.
Research house Technomic said price increases are true across a variety of burger types, including bacon cheeseburgers, veggie burgers and specialty burgers.
“Price increases are offering operators a form of relief as they struggle with rising labour and delivery costs, as well as limited growth through traffic,” said Charles Winship, manager of consumer insights at Technomic.
“But continued price increases for burgers could ultimately cut into perceptions around their affordability and push consumers toward other options.”
Technomic’s research shows that 42% of consumers who eat burgers strongly agree that they have a preferred restaurant they almost always go to for burgers.
46% of consumers who eat burgers strongly agree that they’ve noticed price increases for burgers at restaurants over the past year
Meanwhile, 44% of millennials who eat burgers expect restaurants to offer at least one plant-based burger option.