Fast Food Prices Have Doubled In Ten Years... Labor Costs The Main Issue
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I have to admit I see long lines at fast food drive throughs people are willing to pay $15-17 for a burger, Fries, and a drink. What I find odd is people who have the food delivered the added charge $6-10 plus generally have to tip the person. Now have a big mac meal cost $30 with tax, delivery charge, and tip.
If Inflation was a problem why have we not seen a reduction in spending??
There is
Mc Donald's reported declining global sales. That's 4 quarters of declining global sales.
Major layoffs are happening in the gaming industry - Austin TX is getting hit hard with layoffs
Just read this site to see reduction in spending - via layoffs and bankruptcies
Hm. For those really struggling with money, a peanut butter and jelly sandwich takes about 1 minute to prepare. And it can be made with groceries purchased last week.
A large bowl of cereal, same thing.
That people are still purchasing very expensive fast food, indicates either they have no idea how to live more cheaply (and that's possible) or they don't need to.
Retail stores are falling by the wayside not because people are purchasing less merchandise, it's because they're buying it from Amazon.
I see it at work all the time. THey can't keep food like that in the house because their kids eat it all up, so they have no choice but to eat out. Either way, my statment still stands. Retail is dying because people don't have the money to buy the stuff anymore. I seen it myself in the mall today. Food court was packed, JC Penney's, Macy's, even Halmark was empty. Now, Bath & Bodyworks was packed, I'll give you that. But it is Mother's Day weekend.
During the Covid shutdowns, I remember hearing that 60% of all food Americans ate were consumed outside of the home, prior to Covid. That was astounding. I am sure fast food was a significant part of that.
I'll tell you the story from that time when in a matter of days we went from huh there's not that much toilet paper on the shelve to being mandated to work 12 hour days and because I was not a senior citizen I could not get to the store early and the stores where picked clean during the day by the time I got off work. I was surviving on my earthquake stores supplemented by fast food drive up windows. And when I got the one day off every other week I did my best to replenish the earthquake stock which got its first tryout use as a COVID instead of an earthquake kit.
Hm. For those really struggling with money, a peanut butter and jelly sandwich takes about 1 minute to prepare. And it can be made with groceries purchased last week.
A large bowl of cereal, same thing.
That people are still purchasing very expensive fast food, indicates either they have no idea how to live more cheaply (and that's possible) or they don't need to.
Retail stores are falling by the wayside not because people are purchasing less merchandise, it's because they're buying it from Amazon.
Buying online does cut net jobs related to merchandise sold. It can be sold and shipped far more efficiently online vs when sold store by store.
"Last month, Wiederhorn went on Fox Business channel to talk about California’s minimum wage increase for fast-food workers. He said prices would go up because “operators can’t afford it.”
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"A federal grand jury this week indicted Andrew Wiederhorn, the former chief executive of the company that owns the Fatburger and Johnny Rockets restaurant chains, on federal charges alleging a $47-million “sham loan” scheme.
Wiederhorn, the current controlling shareholder of the publicly traded Fat Brands Inc., is accused of concealing millions of dollars in reportable compensation and taxable income from the Internal Revenue Service and evading the payment of millions in taxes, according to the indictment returned Thursday.
Company money — categorized as “shareholder loans” — was disbursed to Wiederhorn and his family “for their personal benefit,” according to the indictment. Some of that money went toward private-jet travel, vacations, a nearly half-million-dollar Rolls-Royce Phantom, other luxury automobiles, jewelry and a piano...".
Fast food will soon be run by Ai/Robots. No minimum wage needed.
It's also worth noting that a significant number of US fast food chains are increasingly international and make the majority of their profits outside of the U.
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