Whoa. This credit crunch thing is serious. The Shake Shack is offering a $125 burger event. This in itself is a non-event, but in an attempt to create some value, the Shake Shack was forced to throw in a free book from the author of "Meat Me in Manhattan," beer, wine, and the ‘Concreation Station,’ where you can make your own drinks in a special concrete mixer.
This is scary--when the $175 burger has fallen all the way to $125. Worse than the price of oil plunging. So this is what a recession feels like?
Luxury Junk Food Price Drops
$500 Shake Shack Burger is Now $125
Trend Themes
1. Affordable Luxury - The trend of offering luxury goods and services, such as fancy burgers, at more affordable prices opens up new markets and disruptive innovation opportunities in the luxury industry.
2. Value-added Deals - Offering value-added deals with luxury items, such as bundling a free book and drinks with a burger, can differentiate a business and provide disruptive innovation opportunities in the food and beverage industry.
3. Adapting to Economic Downturns - Adapting to economic downturns by offering more reasonable prices and added value can provide disruptive innovation opportunities across various industries.
Industry Implications
1. Luxury Food - The luxury food industry can capitalize on the trend of offering high-end burgers at more affordable prices by exploring new menu options and value-added deals to target a wider market.
2. Beverage - The beverage industry can take advantage of the trend of bundling drinks with food items by exploring new drink options and packaging deals to offer added value.
3. Luxury Retail - Luxury retail companies can differentiate themselves by exploring the trend of offering luxury items at more affordable prices and providing value-added deals to attract a wider market during economic downturns.