Last year Red Lobster had a popular deal called Endless Shrimp, so popular it was considered a factor when the Florida-based restaurant chain filed for Chapter 11 bankruptcy in May 2024. The chain now has a new shrimp promotion it calls "Ultimate SpendLESS Shrimp." "It may not be endless, but you'll definitely spend less," chief executive officer Damola Adamolekun said in a news release.
For years, dating back to the 2022 inflation wave, McDonald's and its fast-food rivals have contended with shopper frustration over rising menu prices, with combo meals increasingly breaking into double digits. Customers at the higher end of the income spectrum continue to order premium products and use delivery apps at healthy rates. Lower-income diners, however, are cutting back, Kempczinski argued in an interview on CNBC's "Squawk Box," treating fast food less as a daily convenience and more as an occasional splurge.