The chain is betting big on new shows, but it may take a lot of effort for it to catch up with its customer base.
Shake Shack (rock) – Get a free reportthe New York-based hamburger fast-food chain, has only been around since 2014, but it has gained a lot of ground in nine years.
The 1950s-era menu list of hot dogs, classic cheeseburgers, fries, shakes, and even beer and wine resonated with the crowd. Things are going well for the company you plan to open 40 to 70 New retail locations in 2023, adding to the 436 retail stores it was operating in 2023.
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Now, the chain is headed in a different direction in mid-2023, at least with its lineup of shakes and frozen custard products.
Shake Shack is betting a lot on meat and dairy alternatives
This week, the company announced that it’s rolling out three new menu items, including:
- Veggie Shack Burger: Made with real seasonal vegetables and grains. “Our veggie burger is packed with mushrooms, sweet potatoes, carrots, farro, and quinoa, topped with American cheese, crunchy onions, pickles, and Shack Sauce,” the company said in a new media release.
- Non-dairy chocolate shake
- Non Dairy Frozen Chocolate Custard:Both the shake and the custard are made from NotMilk, a sustainable vegan drink that “tastes, cooks and mixes just like milk,” says Shake Shack.
According to the release, new eco-friendly food and drink products will be introduced this week, with dairy-free chocolate and non-dairy frozen custard available on May 2 and The Veggie Shack available on May 5. In select stores where Shake Shack is testing its new products.
The burger is expected to retail for $8.29, while the shakes and custard will retail for $6.29 and $4.29, respectively.
Breaking into the vegan fast food market seems like a smart move for Shake Shack. According to Future Market InsightsThe fast food alternative market should grow 4.5% annually through 2033 to $27.9 billion.
Shake Shack stock has seen a significant increase so far in 2023, up 30.5% year over year.
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