Burgermania changes perception about burgers affordability
Growing sales of hamburgers recorded in the last couple of years have pushed up the prices for this type of products creating the image of unaffordability for the burgers, according to a recent study from Technomic.
"Price increases are offering operators a form of relief as they struggle with rising labor and delivery costs, as well as limited growth through traffic. But continued price increases for burgers could ultimately cut into perceptions around their affordability and push consumers toward other options", declared Charles Winship, manager of consumer insights at Technomic.
The survey underlined that 55% of the consumers prefer to eat at least once a week a burger at home or a foodservice bu 95% of those consulted on the matter explained that affordability remains one of the criteria in purchasing these products. Only 35% of the respondents declared that are willing to pay more for premium toppings.
In the US market, 46% of consumers who eat burgers strongly agree that they’ve noticed price increases for burgers at restaurants over the past year, according to Technomic's survey, and 44% of the millennials expect restaurants to offer at least one plant-based burger option on the menu.
At the beginning of the summer, hamburger prices in the US were ranging between $20 and $25. The consumption trend is also present in the EU with prices ranging from €10 in the East European markets such as Romania, Bulgaria or Poland to 18-20 euros in Western Europe.
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