Prices have increased over the last few years in a significant way, and consumers across the country have been affected. However, the prices have had a massive increase in states like New York. 

Since January 2020, only two months before the infamous shut down, prices have increased 19.32% as of April 2024, according to Bankrate. At one point, eggs were about $5/dozen, remember?

The increase in prices have also affected products that we always thought would stay generally affordable and “cheap,” for lack of a better word. That includes items like coffee, road trips, concert tickets, and fast food restaurants. 

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In fact, with the way menu items have increased at fast food restaurants and many of them opting for an automated kiosk rather than a human cashier, many people are wondering if fast food restaurants are on their way out?

Think about it: malls used to be at an all-time peak in the ‘80s, with many people continuing to shop in malls and hang out there throughout the ‘90s and 2000s. After the recession in 2008, malls have seen a sharp decline, with a handful of malls closing entirely, according to Newsweek.  

Now, it looks like fast food restaurants could see a similar effect.  

A recent survey revealed that “78% of Americans now consider fast food a "luxury" purchase due to high prices,” according to LendingTree. Nearly half of people surveyed shared with researchers that fast food is nearly the same cost as a sit-down restaurant meal, if not more.

Families aren’t making as much, either. The average Millennial salary is $47,034, according to the U.S. Census Bureau. There were 58% of younger generation surveyors that agree fast food is more of a luxury purchase nowadays.

Will fast food restaurants go out of business entirely? Probably not just yet, but some locations at famous chain restaurants may close over the next few months. I mean, hasn’t it already started happening? *cough* Red Lobster….

Only time will tell what chain restaurant will be next….it just may be a fast food chain. 

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