Kiplinger.com has compiled this fascinating infographic about the evolving economics of chicken wings. For decades, the larger and leaner chicken breast has ruled the roost in the poultry aisle, but 2010 marks the first year that the almighty wing is commanding the highest price due to rising demand.
Consider this economics at work.
Below, a few statistics about the flight of the chicken wing:
- In the 1980s, chicken wings were selling for an average of 46ยข per pound to chicken breasts’ $2.01 per pound (in inflation-adjusted dollars). In March 2010, a pound of wings now will set you back an average of $1.61, compared to $1.35 for a pound of white meat.
- Wing-focused restaurant Buffalo Wild Wings opened its doors in Chicago in 1982. Twenty-seven years later in 2009, the chain reported revenue of nearly $489 million.
- A whopping 8.5 billion wings were sold in restaurants in 2008, and another 3.5 billion were purchased through grocery stores.
- Earlier this year, news reports started popping up regarding a possible wing shortage. It’s not because fewer chickens are being produced — it’s because that’s what crazy demand will do.
No word yet on whether bleu cheese dressing demand is also exceeding supply.
