Shake Shack (SHAK), the New York-based hamburger fast-food chain, has only been around since 2001, but it’s gained a ton of ground in nine years.
Its 1950’s era menu lineup of hot dogs, classic cheeseburgers, crinkle-cut fries, shakes, and even beer and wine have resonated with the public. Things are going so well for the company that it’s planning on opening 40-to-70 new retail locations in 2023, adding to the 436 retail stores it operated heading into 2023.
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Now, the chain is trending in a different direction in mid-2023, at least with its line-up of shakes and frozen custard products.
Shake Shack Is Betting Big on Meat and Dairy Alternatives
The company announced this week that it’s rolling out three new menu items, including:
- A Veggie Shack burger: made from real, seasonal vegetables and grains. “Our veggie burger is packed with mushrooms, sweet potatoes, carrots, farro, and quinoa, topped with American cheese, crispy onions, pickles, and ShackSauce,” the company said in a new media release.
- A Non-Dairy Chocolate Shake
- Non-Dairy Chocolate Frozen Custard: Both the shake and custard are made with NotMilk, the sustainable, plant-based beverage "that tastes, cooks and blends just like milk," Shake Shack said.
According to the release, the new green-friendly food and drink products will be introduced this week, with the Non-Dairy Chocolate Shake and Non-Dairy Frozen Custard available on May 2 and The Veggie Shack available on May 5. Both will be available in select stores as Shake Shack tests 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 appears to be a savvy move for Shake Shack. According to Future Market Insights, the alt-fast food market should grow by 4.5% annually through 2033, to $27.9 billion.
Shake Shack’s stock is in overdrive so far in 2023, up 30.5% on a year-to-date basis.
