Americans spent $1.7 billion on hot dogs last year—and that’s just at supermarkets; it doesn’t count wieners purchased at restaurants and sports facilities or from street vendors. And no day is better for hot dog consumption than the Fourth of July, when Americans are expected to eat about 150 million of them.
While those numbers are impressive, overall hot dog sales are declining. Higher raw-material costs are leading to higher retail price points, and all other things being equal, as price rises...the quantity demanded decreases. That's the
Law of Demand.
