Fast food is now considered a “luxury,” according to a report by Fox Business:
Has a trip through the drive-through become an extravagance? The vast majority of Americans say so.
A recent nonprobability survey conducted by LendingTree found 78% of consumers now consider fast food to be a “luxury” purchase due to how expensive the meals have become.
Half of those polled said they view fast food as a luxury because they’re struggling financially. This is especially true among Americans who make less than $30,000 a year (71%), parents with young children (58%), and Gen Zers (58%).
Americans love their fast food, but a majority say they are pulling back on their consumption due to high prices. The findings show 3 out of 4 Americans typically eat fast food once a week, but 62% of respondents said they are eating it less frequently due to the cost.
To read the entire Fox Business article, click HERE.