Americans now view fast food meals as a ‘luxury’

Earlier this month, McDonald’s made a reassuring announcement: the return of its $5 meal value. This affordable deal includes a choice of sandwiches, an order of four McNuggets, medium fries and a drink. Not to be outdone, Burger King also offers its own meal your way for $5, consisting of a sandwich, chicken nuggets, fries and a drink. And of course, Wendy’s weighed in first with its $3 breakfasts, then with its 1-cent bacon cheeseburgers. These affordable options provide a welcome respite for consumers amid rising fast food prices.

Although the McDonald’s meal is being served with some fine print – it will only be offered for a limited time in a limited number of locations – these deals provide a welcome break for consumers, who have started to feel a bit of sticker shock fast food. A recent LendingTree survey of 2,025 Americans ages 18 to 78 found that a significant number of people are starting to cut back on their fast food cravings due to ever-rising prices, and more than three-quarters of those surveyed (78%) now consider fast food a luxury.

When asked if they agreed with the statement that “fast food has become more expensive and I now consider it a luxury,” more than three-quarters of respondents said yes. Additionally, just under two-thirds of respondents (65%) said they were “shocked” by a recent high bill at a fast-food restaurant, and that percentage jumped to 72% among parents with children under 18 years old.

“The results clearly show, regardless of context, that most Americans now view fast food as a luxury,” North Carolina-based LendingTree found. “It’s a new phenomenon. Yes, there have always been groups of Americans who might have viewed fast food this way due to their financial difficulties. However, for the vast majority of Americans, feeling this seems like a significant cultural shift and a troubling sign.

There are also differences between perception and reality among respondents. More than two-thirds (67%) said ordering fast food should be cheaper than eating at home, but when asked what they did when they wanted an “easy, inexpensive meal” , more than half (56%) responded that they prepared something at home. . In comparison, only 28% opted for fast food as an “easy and inexpensive” option.

Interestingly, not all fast food chains are perceived the same way. In the survey, respondents were asked to identify the most “premium” fast food offering. Chick-fil-A emerged as the clear winner, with 25% of respondents considering it the more premium option. Starbucks, Chipotle and McDonald’s followed closely with 22%, 21% and 16% respectively. On the other hand, Dunkin’ was ranked as the most premium option by a tiny 1% of respondents, narrowly edging out Domino’s and Burger King, both tied at 2%. This variation in perception adds an intriguing dimension to the fast food industry.

If price hikes continue, the perceived status of chains may not matter as much as what we can afford to order at the drive-thru. Bring on those $5 meal deals!