WENDY’S burgers are about to get more expensive.
Rising inflation is driving up the cost of beef and consumers will feel it in their wallets.
Why the increase?
With inflation on the rise, many different sectors have no choice but to raise their prices.
We have seen increases in the prices of gasoline, housing and utilities, and of course the cost of food.
The price of beef alone soared, as demand increased by more than a hundred million pounds.
The US Department of Agriculture (USDA) said that we should expect prices to continue to rise as there has been a -0.31% decline in red meat.
When this happens, livestock producers are forced to increase their production costs creating a domino effect.
What about Wendy’s?
According to the Consumer Price Index, prices at most fast food chains, including Wendy’s, have increased 7.1% since October 2021.
Despite the company’s growth in multiple areas, Wendy’s plans to raise prices for the second year in a row.
Since 30-35% of their customer base earns less than $45,000 a year, they will continue to keep their popular menu deals like 4 for $4 and other promotional items available in their app.
Most of your offerings will now come from your breakfast menu.
Wendy’s expects the prices of other items to increase and that the launch of its new breakfast menu will generate more sales for the company and generate higher profits.
During an earnings call, Wendy’s CEO Todd Penegor spoke about the importance of driving those breakfast sales.
Penegor said, “Disruptive promotions get people’s attention.
“It allows us to talk about the Wendy’s brand, talk about quality at a very good price, and it brings a lot of people to try.”
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