Fast food is expensive. Applebee’s and Chili’s are moving in
CNN
McDonald’s and other fast food chains are charging more. So much so that you may want to consider going for a slightly slower burger. Or at least, that’s what Applebee’s wants you to think about.
McDonald’s and other fast food chains are charging more. So much so that you may want to consider going for a slightly slower burger. Or at least, that’s what Applebee’s wants you to think about. “You can get our burger for $9.99,” John Peyton, CEO of Applebee’s parent company Dine Brands, told CNN in an interview. With that in mind, “why would you take a $10 burger … that you can eat in a bag out of your car?” If Peyton’s sales pitch resonates with customers, it could help convince diners to eat at sit-down restaurants, something they might otherwise see as an indulgence. For a while, restaurant customers were trading down — swapping out expensive meals for cheaper ones, but still dining out. Now, some are responding to higher menu prices by trading out entirely: Instead of opting for cheaper restaurants or meals, they’re eating more at home and spending less when they do go out. That means that restaurants have to battle it out for these cost-conscious consumers. And now, it’s not just burger chain against burger chain. Because fast food joints have been hiking up prices in recent years, dine-in spots like Applebee’s can run promotions that end up costing about the same as a fast food lunch — giving them a chance to try to steal those customers away.
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