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How Much Will You Spend This Thanksgiving?
This year, consumers witnessed a lot of cost increases in food, so it's only natural that the price of Thanksgiving dinner has crept up, too. Agriculture experts estimate that Thanksgiving costs have risen by an average of six percent this year, and the American Farm Bureau, which conducts a Thanksgiving yearly survey, cited $44.61 as the average cost of a Thanksgiving for 10 in 2007.
I'm not surprised; in fact, I'm certain that I spend at least twice as much on my Thanksgiving dinner.
Do You Know How Much You Spend on Food?
Earlier this week the San Francisco Chronicle published an interesting article about food spending. In the story, author Rob Baedeker unscientifically asks grocery store goers if they know how much they spend on food each month. The majority have no food budget and have never totaled their grocery and eating out receipts.
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Shrunken Packaged Foods' Slow Return to Their Original Size
In a small indication that America may be on a slow road to economic recovery, consumer foods marketers are beginning to reintroduce larger packages at the same price. Last year, manufacturers were hit by high fuel and commodity prices, so to avoid blatantly transferring cost increases to consumers, manufacturers such as Hellman's, Tropicana, and Kellogg's quietly began downsizing packages.
Ben & Jerry's even went after the size of Haagen-Dazs in its marketing campaign, pointing out that the rival company had downsized its "pints" from 16 to 14 ounces.
With New Menu Items, Burger King Hopes to Add Value
Despite the soaring cost of food prices, fast-food chain Burger King announced that it will be adding two petite-sized, lower-cost items priced at $1.39: the Cheesy Bacon BK Wrapper and the Spicy Chicken BK Wrapper.
Burger King is attempting this strategy in a frenzied fast-food climate, as the industry is struggling to balance rising costs of food with value-added items. Fast-food companies such as McDonald's have had a difficult time keeping value items under the traditional $1 mark.
Burger King Launches Burger and Breakfast "Shots"
Burger King is continuing its strategy of adding petite-sized, lower-cost items to its menu at a time when food prices have soared but consumers are strapped for cash.
The fast food chain announced today that it will roll out new burger and breakfast "shots," or burgers in miniature sizes.
The sliders will come in a two-pack ($1.39) and a six-pack ($4.09) and will consist of a flame-broiled patty, ketchup, mustard, and two pickle slices, sandwiched between a plain bun.
Trend Alert: Food-Swapping Groups
A while back, we talked about the rise of pickling and canning at home. But what happens once you've filled your pantry with homemade pickled watermelon rinds and apricot jam? Our friends across the pond have come up with a smart solution: organizing food exchanges.
Tough Economy Forces McDonald's to Reevaluate Dollar Menu
In a response to soaring food prices, McDonald's announced yesterday that it will be restructuring its dollar menu. This means swapping out the dollar menu's most popular items and replacing them with less-costly offerings. The company is testing changes to its $1 bestseller, the double cheeseburger.
Food Sizes Shrinking, Prices Stay the Same
On Friday afternoon I was in the ice cream aisle at my local grocery store. Since food is incredibly pricey these days, I was searching for the cheapest vanilla ice cream. As I reached for what I thought was the cheapest, my bff pointed out that it was actually a smaller container with a more expensive price tag!
Burger King Goes High-End
Number two fast food chain Burger King has been testing a new line of premium items. This includes ribs and thicker burgers, made with grills, batch broilers, and other costly new kitchen equipment.
The fast food chain's decision to move in the direction of higher-price items comes at a time when the casual restaurant industry is struggling.
McDonald's Dollar Menu Here to Stay
Top fast food chain McDonald's announced its third-quarter earnings today, and made reassurances that it would continue its efforts to be "recession-resistant."
The corporation made sure to squash swirling rumors that its dollar menu may become a thing of the past. There will, in fact, still be a dollar menu.
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