In a climate of escalating fast food prices across the United States, Shake Shack has emerged as the most expensive, according to a recent study.
The research revealed that the burger chain has received the highest number of complaints for its steep prices, with Five Guys trailing closely behind, criticized for their "out of control" prices.
As reported by The New York Post, Shake Shack increased its menu prices by 3% earlier this year, as disclosed by the company's CFO, Katie Fogertey, during an investor call. The New York Post has since sought a comment from Shake Shack on this matter.
The study, undertaken by Preply, also shed light on the high prices at celebrity-owned restaurants, specifically pinpointing those owned by renowned chef Gordon Ramsay. The authors of the study noted, "While diners may be willing to pay a premium for a trendy atmosphere and their favorite celebrity chefs name on the building, they can feel let down if the food served and service offered dont match the quality they anticipated."
Interestingly, despite New York City being a hub for Shake Shack outlets and celebrity-owned restaurants, it was not considered the city with the most overpriced eateries. That dubious honor went to Oakland, California, followed by San Jose, California, and Virginia Beach, Virginia. The study determined these rankings by analyzing restaurant reviews for keywords such as "pricey" or "rip-off" and gauging their frequency of use.
This research comes at a time when price hikes at fast food chains nationwide are causing customer dissatisfaction. Chipotle, for instance, has faced backlash from former patrons who have vowed to patronize competitors due to its soaring prices.
In a related development, a study claimed that McDonalds prices have surged over 100%. However, the fast-food giant refuted these findings as inaccurate. A company spokesperson told The Post, "As the report itself notes, pricing is set by individual franchisees and varies by restaurant. This is not an accurate representation of historical or current pricing at McDonalds restaurants, and the 2024 average prices listed are significantly inflated."
Joe Erlinger, the president of McDonalds USA, also issued a statement, asserting that the price of a Big Mac, on average, has only increased by 21%. This ongoing debate over fast food prices underscores the tension between businesses trying to stay profitable and consumers demanding affordable options.
Login