Burn Posted July 30 Posted July 30 McDonald's is reconsidering its pricing strategy, after customers cutting back their spending took a bite out of the fast food giant's sales. Outlets open for at least a year saw sales fall 1% over the April-June period compared with a year earlier - the first such decline since the pandemic. The drop came despite the hamburger chain offering money off deals to try to win back cost-conscious customers and those who have boycotted the chain over the Israel-Gaza war. Boss Chris Kempczinski said the poor results had forced the company into a "comprehensive rethink" of pricing. Price increases, made in response to inflation, had "led consumers to reconsider their buying habits", Mr Kempczinski admitted. McDonald's has increased prices on key items faster than its peers, said Bank of America analyst Sara Senatore. "Consumers are savvy, aware of that," she said. "The $5 meal that they have launched may be starting to change perceptions, but we are not seeing a trend change yet in terms of transactions and that's what they're going to need to see." McDonald's is the latest corporate giant to warn of slower consumer spending, including in major economies such as China. The company said overall revenue, which includes sales at newly opened stores, was flat year-on-year. Profits slipped 12%. https://www.bbc.co.uk/news/articles/c728313zkrjo
Rune Posted July 30 Posted July 30 "Price increases, made in response to inflationthe deluded belief that we can price gouge our consumers under the pretense of inflation because they'll still buy our products." 5
bielneira Posted July 30 Posted July 30 High prices could be justified by high-quality products or services, but even those are getting worse. 2 1
Vegvisir Posted July 30 Posted July 30 I can only speak for the Canadian market but the menu here is SO limited and nothing ever changes. I can't believe that in 2024 McD's STILL hasn't put a plant based burger on the menu, or plant based nuggets. Literally every restaurant and most fast food joints have Beyond or Impossible beef/chicken options, and even allow you to swap for the plant based patty on any other sandwich. That paired with the price of a meal at McD's being close to a meal at a nice restaurant makes them one of the least desirable fast food stops for me.
Zaram Posted July 30 Posted July 30 The prices since the pandemic have been so high. For a few more $ I could get me also something with more quality. Though the 5$ menu is a pretty great deal!
SimpleKindofLife Posted July 30 Posted July 30 A single Big Mac is like $7 and a large fry is $5 they truly lost the plot
Moloko Plus Posted July 30 Posted July 30 5 minutes ago, GraceRandolph said: The Palestine protests are working guys. I promise you this has little to do with the "Palestine protests" and much more to do with McDonald's increasing prices by literally more than 100% in the past four years. The fact that a MEDIUM FRY costs $4.99 or a single HASH BROWN costs $3.99 at some locations is actually insane.
Breathe On Moi Posted July 30 Posted July 30 it's only a matter of time, this is great one major ******* corporations to the next, soon enough.
Almodusa Posted July 30 Posted July 30 No cuz a mcchicken used to be a dollar then went up to like $3.49 2
Better Mistakes Posted July 30 Posted July 30 I remember in the UK a large McChicken sandwich meal costing like £3.50 when I a teenager. It's basically doubled in price now
POPTART Posted July 30 Posted July 30 The prices of meal deals are too high, I'd rather buy a pub burger for almost the same price. 1
305 Posted July 30 Posted July 30 Then and every other fast food (except for Taco Bell) need to do this. There is no reason why I should be paying restaurant prices for fast food 1
Johnny Jacobs Posted July 30 Posted July 30 When the food's quality is worth 1/5 of its price.. Yeah they should 1
Namiskine Posted July 30 Posted July 30 As previously mentioned several times, ain't nobody paying real restaurant prices for trash quality food 1
toy soldier. Posted July 30 Posted July 30 Prices too high, not fast anymore and people are more conscious about they eat. It was long overdue
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