The post noted that prices would be lowered for customers as a result of reduced costs with Corbett's supplier contracts.
"Sometimes you got to bite the bullet a little bit and just lower the cost just to get people in," said manager Ryan Shope, whose father, Corbett Shope, founded the chain.
Cary-based Corbett's also has locations in Raleigh, Holly Springs, Sanford, and Morehead City. It has lowered prices at all locations.
"We had just gotten tired of people just coming out to eat, and then they see the total, and then they just, they eat it, and it's good," said Ryan Shope. "But then they leave, and like, we just can't eat out here as much."
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When the opportunity presented itself for lower prices for consumers, the Shope family said it was a "no-brainer."
"We'd been looking into that for a long time. Ever since they went up, we'd been trying to bring them back down just for the consumer because, you know, obviously prices everywhere went up," said Ryan Shope. "Cost wise is just that it's really expensive to like run a restaurant and own a restaurant. Like everything is so high for us to pay right now. It's like people come in and they look at the prices and like it's high for them and they're upset. But at the same time, it's like it's hard for restaurants and businesses to make money in general."
He said time will tell if they can maintain prices where they are without it being a burden on their bottom line.
'An extraordinary situation'
Meanwhile, NC State University economist Michael Walden said he believes Corbett's may be the exception to the rule.
"I would think that would be an extraordinary situation where their suppliers are saying we're going to cut our costs and our suppliers are saying we're going to pass those costs to you," said Walden. "That seems like an unusual situation based on where the economy is right now."
Walden said history shows that regardless of restaurant efforts, prices always found a way to increase.
"If their costs go down by 10%, that means they could potentially lower their prices by 10% and keep the profit margin. But if this reduction is short-lived, they're going to have to go back to their previous situation and raise their prices," he said.
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