Fast food price increse

[Shaul]

But government should force those
wicked profiteers to lower their prices
while increasing worker pay. And put
more potato chips in each bag.

And let the chips fall where they may, I suppose....

 

[anna.]

Complaining about fast food prices....
First world problems.

Biden & other fools in public office complain
about a problem of no significance. Why?
Because the masses lap up such pandering.

The State of 'Shrinkflation': Why Biden called out skimpy bags of potato chips

The term is relatively new, but companies have long hidden price hikes in plain sight by changing package sizing. Now the debate is getting political.

www.wusf.org

Fewer Potato Chips In Your Bag? Democrats Want To Crack Down On ‘Shrinkflation’

Lawmakers want to make it an unfair trade practice when companies shrink food and household products but keep the price the same.

www.huffpost.com

I recently heard some Congress critter whine
about potato chip bags containing fewer chips,
but with no decrease in price.
"Shrinkflation!"
"Profiteering!"
"Congress should investigate & regulate!"

My solution....
Improve your health by not eating potato chips.
Let's not create more bureaucracy in government
that increases the cost of doing business, which
leads to higher prices.
Government shouldn't be dictating whether businesses
raise prices or reduce quantity. It's gonna be one or
the other. It makes no difference which happens.

Corporations are greedy. I don't mind having a light shone on that greed.

 

[Revoltingest]

Corporations are greedy. I don't mind having a light shone on that greed.

Of course they are.
If they weren't, I'd never buy stock in them.
Without promise of profit, they wouldn't be
able to survive, & provide us with products
& services.
I like to shed light on such things.

 

[We Never Know]

But government should force those
wicked profiteers to lower their prices
while increasing worker pay. And put
more potato chips in each bag.

"And put more potato chips in each bag"

Are you kidding? That would mean less air and those poor potato chips would suffocate

 

[Revoltingest]

"And put more potato chips in each bag"

Are you kidding? That would mean less air and those poor potato chips would suffocate

If they dint want to suffocate, they shountve dressed that way.

 

[anna.]

Of course they are.
If they weren't, I'd never buy stock in them.
Without promise of profit, they wouldn't be
able to survive, & provide us with products
& services.
I like to shed light on such things.

There's profit, and there's price-gouging.

Good to know you celebrate your shareholder benefits at the expense of Americans trying to buy groceries.

America's biggest companies can't stop bragging to investors about how they're charging you more

"What we are very good at is pricing," Colgate Palmolive's CEO said last week as several companies touted their ability to pass costs to consumers.

www.businessinsider.com

 

[John53]

I don't eat much fast food but....

I bought a bacon, egg and cheese biscuit from Hardees back in December 2023 and it was $3.49 after tax.

I bought a bacon, egg and cheese biscuit from Hardees yesterday and it was $4.57 after tax.

I was like did you ring it up wrong or did the price increase that much? She said all prices went up at the first of the year. I said a $1.08 is a big jump for a bacon, egg and cheese biscuit lol

Makes me wonder if it has anything to do with the California raise that started at the first of the year.
Raise prices everywhere to help offset the cost of that raise to $20 per hour for fast food.

I don't mind paying extra if the money is being passed on to the workers, primary producers and franchise owners but I suspect most of the extra profit is going to the multinational parent companies.

 

[Shadow Wolf]

Another factor over & above a market willing
to pay more....
The Rally's near the Chrysler plant would very
likely pay higher property taxes because of
higher property valuation.

From what management said it's not based on property taxes. For example, the one across the street from the hospital and near to where lots of lawyers frequent is cheaper than the one near Chrysler. But healthcare professionals aren't known for being spendy like the Chrysler workers, the lawyers aren't really going there, more just a "regular" crowd.
They're more looking at who's willing to pay what.

 

[Shadow Wolf]

Good to know you celebrate your shareholder benefits at the expense of Americans trying to buy groceries.

As an American trying to buy groceries, I just sold some of my shareholder benefits to help get a business going.

 

[Revoltingest]

There's profit, and there's price-gouging.

How do you discern the difference?

Good to know you celebrate your shareholder benefits at the expense of Americans trying to buy groceries.

If you eliminated profit, you'd be denying
Americans their grocery stores & their
suppliers.
This means that I'm a better person than
you are because I want people to eat...but
not too much....obesity is rampant.

America's biggest companies can't stop bragging to investors about how they're charging you more

"What we are very good at is pricing," Colgate Palmolive's CEO said last week as several companies touted their ability to pass costs to consumers.

www.businessinsider.com

Here's how market capitalism works....
If someone makes a high return, others see
this, & move in to compete. This puts limits
on prices. But stability isn't instantaneous.
There are transients....something you can
see readily with gas prices.

 

[Revoltingest]

From what management said it's not based on property taxes. For example, the one across the street from the hospital and near to where lots of lawyers frequent is cheaper than the one near Chrysler. But healthcare professionals aren't known for being spendy like the Chrysler workers, the lawyers aren't really going there, more just a "regular" crowd.
They're more looking at who's willing to pay what.

Certainly, one should charge what the market will bear.
But without seeing their books, you wouldn't know
their costs.

 

[Shadow Wolf]

Certainly, one should charge what the market will bear.
But without seeing their books, you wouldn't know
their costs.

It's what management explained to me.

 

[Twilight Hue]

Did you not hear of the recent attacks on shipping vessels? Either ships pay royally in increased insurance premiums or they pay tons more in fuel to take a safer but significantly longer route.
We also still have the effects of Russia's invasion of Ukraine that didn't stop.
This isn't deception, it's bad things happening that's fueling it.
Of course various things could happen and prices could go down some, but even In n Out, who doesn't really do advertising and helps keep prices low that way, has seen price increases as well.
We live in a more connected world now, and moreso than ever we feel what happens on the other side of the planet.

People now are using all kinds of world events and situations as an excuse to raise prices substantially and then say, "Don't blame me, it's not my fault"!

 

[Shadow Wolf]

People now are using all kinds of world events and situations as an excuse to raise prices substantially and then say, "Don't blame me, it's not my fault"!

That's actually a real and valid reason as to why the prices for some things has increased. Yes, corporate greed is rampant but let's not pretend this normal market manipulation to artificially increase prices that's the sole source of recent inflation.
It's a situation where it can be very easy to target smaller businesses while attacking larger corporations because prices are going up everywhere and being raised by almost everyone (cannabis prices have remained largely the same though).
And it's not now. Basically forever is how long it's been going on that events in one country (particularly wars, lots of death amd starvion, hikes in taxes to use routes, and political-social unrest) effects the commerce and trade in others.

 

[Revoltingest]

It's what management explained to me.

If you don't see their books, you don't know.
I've known many business owners who don't
understand their own accounting.
But whether they're very profitable or
running at a loss, they should be charging
what the market will bear. If too much,
competition will arrive. If too little, that
leads to loss & closure.
Wait til you run a business....you'll grok.

 

[It Aint Necessarily So]

Makes me wonder if it has anything to do with the California raise that started at the first of the year.
Raise prices everywhere to help offset the cost of that raise to $20 per hour for fast food.

You can answer that question by seeing how much or little fast-food prices changed in states and other countries that didn't enact an increase in minimum wage between December and now, and also by comparing the increases in fast food prices to changes in the prices of other kinds of restaurants in the same neighborhoods. From $3.49 to $4.57 is about a 30% increase.

Also, look at prices between December and now in other fast-food outlets beside Hardee's.

You mentioned another restaurant ("mom and pop") that you seemed to think was a better value at $6.33. If you had a way to know what they charged for that breakfast in December, that might give you some information. If it cost $4.87 in December, then it has gone up about 30% as well, but if it was $6.33 or something very close then, then the cost of ingredients probably isn't a big factor in this recent spike.

 

[Shadow Wolf]

If you don't see their books, you don't know.
I've known many business owners who don't
understand their own accounting.
But whether they're very profitable or
running at a loss, they should be charging
what the market will bear. If too much,
competition will arrive. If too little, that
leads to loss & closure.

And yet you aren't the one who worked there.

Wait til you run a business....you'll grok.

I already understand what you're saying. What you aren't wanting to acknowledge is property taxes aren't it, and insist it still is even though you weren't there.

 

[Revoltingest]

And yet you aren't the one who worked there.

And I'm glad I didn't.
The food industry is not for me.

I already understand what you're saying. What you aren't wanting to acknowledge is property taxes aren't it...

Oh, how little you know. Anything that increases
a business's costs is passed on to the consumer.
Property taxes are just one of many factors.

...and insist it still is even though you weren't there.

I'm just trying to educate you about business.
Being an employee just doesn't expose one
to the economics. And that status often causes
one to harbor myths & prejudices.

 

[Vinayaka]

Upon some research, I learned that 40% of all meals in America are had at restaurants, including fast food. Personally, I find that incredibly high, but then mine is way under 1%.

 

[Shadow Wolf]

Oh, how little you know. Anything that increases
a businesses costs is passed on to the consumer.
Property taxes are just one of many factors.

Yes, but in this case there is consciously tailoring prices to local clientele. In this case it's a factory full of workers who are paid way better than most and are known for spending a lot and liking their toys. So, with that in mind, they charge a bit more because the ones they're doing it for will pay it as they upsize and take the suggestive sales and eagerly hand over the cash for it all.