McDonald's Raises Prices by 200 Won on Cheeseburger and Big Mac Sets
Burger King's 'Whopper' and Lotteria's 'Bulgogi Burger' Also See Price Increases on Signature Menus
[Asia Economy Reporter Choi Saeng-hye] The prices of hamburgers, enjoyed by people of all ages, have risen one after another during the year-end and New Year period. While the overall increase in costs such as raw materials and labor costs was cited as the reason for the price hike, there is also criticism that this is a customary measure taken to take advantage of the year-end and New Year period when dining-out expenses tend to rise.
According to the related industry on the 19th, McDonald's will raise prices for a total of 8 menu items starting from the 20th, including 4 types of burgers, 2 breakfast menus, 1 side, and 1 beverage. The average increase rate is 1.36%. The cheeseburger and Big Mac set will increase by 200 won, and other products will increase by 100 to 300 won.
A McDonald's representative said, "Considering the rise in overall costs, we have adjusted the prices of some menu items," adding, "We have maintained prices for popular items such as the McAll Day set and the Land of Happiness menu without change, and tried to minimize the price increase for products that inevitably needed adjustment to reduce the burden on customers."
Last month, Burger King raised prices for 27 menu items including the Whopper. The price increase targets include 20 types of burgers such as the Whopper, Shrimp Whopper, and Truffle Mushroom Whopper, 6 side menu items including the 21 Cheese Stick, and 1 beverage, totaling 27 items. The price increase per product ranges from 100 to 300 won. The average increase based on store prices for all menus is 2.5%, and this price hike comes after 1 year and 9 months since March 2018.
A Burger King representative explained, "Due to the burden of overall cost increases such as raw materials and labor costs, we implemented price increases for some menu items, but we tried to minimize the burden on customers by keeping the target menus and price increase rates as low as possible to provide the best taste, quality, and service to customers."
Lotte Ria also adjusted the selling prices for 26 items including burgers and desserts starting from the 19th of last month (13 types of burgers, 6 types of desserts, 2 types of drinks, and 5 types of chicken). This is one year after raising prices by 200 to 300 won for 11 types of burgers in December 2018.
The prices of hamburger items increased by 100 to 200 won. The cheapest items, the Deli Burger (2,300 won) and Chicken Burger (2,700 won), rose by 200 won each to 2,500 won and 2,900 won respectively, while the Bulgogi and Shrimp Burgers increased by 100 won from 3,800 won to 3,900 won.
Also, the T-REX Burger, Classic Cheeseburger, Hot Crispy Burger, Double X2 Burger, Wagyu Edition II Burger, Big Bull Burger, Mozzarellainder Burger-Bacon, AZ Burger, and Hanwoo Bulgogi Burger each increased by 100 won. After adjustment, prices range from 3,700 to 7,000 won.
For desserts, the Long Cheese Stick increased from 1,700 won to 1,800 won, and the Corn Salad (1,500 won) and Squid Rings (2,000 won) increased by 200 won each to 1,700 won and 2,200 won respectively. The Green Tea and Choco Cookie Tornado (2,200 won) and Strawberry Tornado (2,300 won) also increased by 100 won each.
For drinks, milk increased from 1,000 won to 1,500 won, and hot chocolate increased from 1,500 won to 2,000 won, both by 500 won. For chicken, Chicken Nuggets (1,000 won) increased by 200 won, and Fire Wings (2 pieces and 4 pieces) and Fillet (2 pieces and 4 pieces) each increased by 100 won. The average increase rate is 2.0%.
A Lotte Ria representative explained, "Due to increases in raw material prices, labor costs, and other economic factors, the price increase was inevitably decided."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
