Burger King Is Probably Going To Get More Expensive. Here's Why
It is a bad time to love fast food. Eat This, Not That! reports that Chipotle just raised menu prices as a way to make up losses seen due to the price inflation of ingredients and transportation costs. Starbucks joined the fray and jacked up their costs, citing supply chain problems and continuing staffing issues, per Thrillist.
The entire fast food industry faces a crisis due to economic inflation. Insider states that restaurants have taken a variety of actions to curb the worst aspects of this market trend. Some McDonald's locations upped their soda prices, Burger King ditched coupons and reduced the amount of chicken nuggets they sell per order, and some restaurants have even stopped promoting value menus. These tactics haven't necessarily worked. Taco Bell opted to just increase the price of its menu, shocking fans and customers everywhere. On this latest wave of price hikes, it now looks like Burger King might face another price spike.
Why Burger King needs to raise prices
Dished reports that Burger King's parent company may plan to raise menu prices at the restaurant in the very near future. The company defended this course of action by pointing to rising food prices as a rationale. RBI, Burger King's parent company, said that this price change isn't set in stone, and depends on a number of factors, including transportation costs. The company also wants to stay affordable in the face of its competition and allegedly plans to offer customers the best deal it can.
Burger King may have a few tricks up their sleeve too. The fast food chain plans to update its employee training to increase efficiency, and wants to tap into the power of the Whopper in all of its forms to pull in greater profits, per Nation's Restaurant News. If the restaurant chain can come up with new sandwich innovations and attract enough customers, it might help defray some of the rising menu costs. These trends have yet to be seen and fans of the chain should continue to cross their fingers in hopes of keeping menu prices steady in the year to come.