Wings are super hot
Chicken wings are flying out of the fryers during the new normal of Covid-19. Wingstop itself is UP an over 30% durign Q2 2020 and a long list of major chains have taken notice. Domino's (not know for a quality chicken wing) has been working on improving their wing experience and adding sauces, due to increased interest. Taco bell is rumored to be testing chicken wings in California. Multiple brick and mortar chains are venturing into virtual wing concepts. Chili's has launching "Just Wings" and Applebee's launched "Neighborhood Wings".
What this means
Chicken wings used to be a by product and producers almost gave them away. Ten cent wing nights were standard bars all around upstate NY. Basically free chicken wings are a good way to bring in and keep people buying drinks. The popularity of the chicken wing went through its first explosive growth during the 90's with multiple franchises growing and becoming popular around the country offer the buffalo wing. It should be no surprise that the price followed the popularity. Once a basic giveaway, independent restaurants without much buying power had to raise prices and watch margins.
This also brought about the seasonal wings price spike around super bowl and march madness times. With so much demand the prices must follow. So... unfortunately this next wave of popularity will probably mean another raised plateau of cost. Hopefully there will still be a bit of margin, but for most independents it will be a break even at best product.
Opportunity
With the demand for bone in wings soaring, other chicken products are seeing cost reductions. It takes a large number of chicken to produce wings, so the chicken breast prices have been coming down in the last 4-5 years. Take a look at the prices...
Even the big boys have been taking notice: Buffalo Wild Wings bets on boneless as wing costs soar
BOTTOM LINE: get creative and work on your boneless chicken recipe and maybe throw in some tenders to help make up for the lost margin on bone in wings.