Buying beef and paying for patties

With a majority (87%) of people "fed up" with rising prices, more than a quarter (27%) have hit a pricing limit when it comes to groceries and household goods. This may be one of the reasons why California-based In-N-Out Burger is able to achieve $2.1 billion¹ in annual sales: The cost of a burger at the chain has increased by 25% since 2020, the lowest among nine other burger joints. With just over 400 restaurants in eight states, In-N-Out has the highest sales per location within the burger segment.¹ 

Consumers spent an average of $6,270 each month throughout 2024, dishing out a monthly average of $861 on restaurants and $620 on groceries. In the first six months of the year, Gen X spent the most on groceries at $684, followed by Millennials ($594), Baby Boomers ($563), and Gen Z ($359).

As of December 2024, the latest Consumer Price Index (CPI) report shows that the price for 1 pound of ground beef rose by 7.6% to $5.61 compared to the previous year.² This is approximately a 35% increase over a 10-year period.³

The average price of 1 pound of ground beef over 10 years

The cost to make a cheeseburger at home increased by 1.8% to $2.22 from May 2023 to May 2024.⁴ Expenses rose for ground beef (by 3.8%), tomatoes (3.4%), and bread (1%), while cheddar cheese dropped by 5% and lettuce decreased by 0.5%.

A meaty appetite

Burgers have been around in the U.S. since the start of the 20th century, with beef becoming a staple in diets even decades before.^5,6 Fast forward to the present, and Americans consume an average of 2.4 burgers a day – according to the United States Department of Agriculture (USDA).⁶ Add those slices up, and you get around 50 billion annually.

Since opening its doors, McDonald’s has sold a substantial number of patties, reaching its 300 billionth burger sale in 2013.⁷ Burgers are such a staple that first class passengers on select Delta Airlines flights are now able to order a burger in the skies through a new partnership with Shake Shack, valued at $4 billion.^8,9 A third of Americans would rather have a burger instead of a traditional turkey during the holidays.¹⁰

In-N-Out is up top for workers

In addition to being known for its fresh ingredients, In-N-Out is also recognized as a top employer. The chain earned a top 10 spot in Glassdoor’s inaugural Best-Led Companies list and ranked third in its 2025 Best Places to Work list.^11,12

Employee reviews reveal positive attitudes toward their paychecks – which is the number one driver of job satisfaction of 67% of Americans, according to an Empower study – along with benefits and colleagues. In-N-Out managers have an average salary of $160,000, while managers at McDonald’s and Shake Shack also have the potential to earn a six-figure salary.^13,14