The explosive growth of fast casual restaurants and other alternatives to traditional fast food establishments has caused many people to declare that fast food burger places are dying out. The slumping sales at McDonald’s over the past three years has added fuel to observers’ claims that burger joints are on the way out. However, the fast food doomsayers are looking at the data incorrectly. American consumers like quick-service burgers just as much as they always have, and demand will remain steady for the foreseeable future.
Despite McDonald’s recent difficulties, the fast food burger market has actually been growing overall. Smaller chains like Sonic, Whataburger, and Hardee’s have all increased their sales over the last few years. Titans like Wendy’s and Burger King have been doing well too, with Wendy’s reporting strong same-store sales growth this year.
Some analysts believe that strong growth for other burger chains comes at McDonald’s expense, but industry experts say that’s just not true. Wendy’s and Sonic have both stated that McDonald’s business fortunes do not affect them materially for good or ill. McDonald’s is also taking steps to get out of its funk by introducing all-day breakfast and simplifying its menu. Early reports indicate that these measures will go a long way towards reversing the chain’s same-store sales declines.
Read the full article here: People Still Like Fast Food