Americans are turning their backs on fast food, as some of the country’s largest franchises continue to hike the prices of what were once affordable meals. Explaining its first quarterly sales miss in almost 4 years, Chris Kempczinski, CEO of McDonald’s, told investors this week that low-income consumers are spending less at their restaurants. “Eating at home has become more affordable,” acknowledged Kempczinski. This comes on the heels of videos that have shown up on social media, revealing shockingly high fast food prices and cementing the idea that the days of the $1 value menus are long gone. McDonald’s was recently lambasted online after one of its restaurants in Connecticut was shown selling a Big Mac meal for $17.59, followed by another post of a receipt for $7.39 for one Egg McMuffin. The problem is not exclusive to McDonald’s. This week, Yum Brands, the parent of KFC, Pizza Hut, and Taco Bell reported similarly disappointing revenue results. Last month, a viral video showed someone discovering a 12-year-old Taco Bell receipt that showed Americans could once by 2 of the chain’s beefy 5-layer burritos for $2.59. Today, those same 2 burritos would set you back $7.58. Americans are speaking up, warning fast food restaurants that they want efficiency and affordability, and if they don’t get it, they’re prepared to walk.
