How has inflation affected the average American's fast food consumption? According to a new survey from Lending Tree, three in four consumers typically eat fast food at least once a week, but 62% say rising prices have caused them to eat fast food less often.
Additionally, nearly half of respondents said their bill at a quick-service restaurant is similar to that at a local sit-down restaurant, and 22% said it's more expensive at a fast-food restaurant.
These sentiments come as rapid inflation has reached a tipping point in the United States. A recent study revealed that many major fast food restaurants have increased their prices by an average of 60% over the past decade.
Drive-through dining = luxury?
Due to rising costs, 78% of respondents said they consider fast food a luxury. For people with annual incomes of less than $30,000, that percentage rises to more than 80%.
Additionally, half of respondents said they consider it a luxury because low-income Americans, parents of young children, Gen Z, and women are struggling financially.
This resonant response signals a new phenomenon in the United States
“There have always been groups of Americans who may have viewed fast food that way because of their economic hardships,” the Lending Tree report noted, “but that a majority of Americans feel this way seems a significant cultural shift and a worrying sign.”
Costly meals at home
When asked about their go-to option for an easy, inexpensive meal, 56% said they prepare meals at home, while 28% said fast food.
About 67% of survey respondents feel that fast food should be cheaper than eating at home.
“Preparing meals at home has become the first choice for all age groups, but when you look closer, there's a big difference: Older Americans are more likely than younger Americans to cook at home. far more skewed,” the report says. “Only 47% of Gen Z plan to prepare their meals at home, and 39% choose fast food.”
“Fatigue from falling” makes the problem worse
Tipping requirements were also introduced at fast food restaurants, adding to the frustration for cash-strapped fast food lovers.
In the past six months, 44% of respondents said they had been asked for a tip at a fast food restaurant. Almost the same percentage (43%) say no to these requests.
“We have never before been asked to tip 20% when buying a Happy Meal for our children. But that is changing in some establishments,” the report notes. . “Technology has made it easier for businesses to ask customers for tips, and… companies are using it to bring in additional revenue, sometimes to the detriment of their customers.”
Food Research Institute Podcast
How are restaurant industry consumers combating persistent inflation? For example, are you eating more meals at home, or are you still treating yourself to your favorite restaurant? In the latest episode of The Food Institute Podcast, he explores this topic with BentoBox's girlfriend Krystle Mobayeni, who analyzes rapidly evolving consumer dietary trends.
