McDonald's responds to high prices with value meal: Report


After the push from the customers it ended fast food to the sky prices, McDonald's has been teasing new initiatives to win back its loyal fans, including testing bigger burgers and new recipes.

Now, the burger chain is also said to be trying out new menu combinations to make eating at McDonald's easier on consumers' wallets.

Citing people familiar with the matter, CNBC reported Friday that McDonald's will introduce a $5 meal where customers can choose either a McChicken or a McDouble, McNuggets, fries and a drink.

Average cost for a single McDouble as of press time is about $3.65.

Connected: McDonald's in Connecticut goes viral for astronomical prices

On April 30, after McDonald's reported its Q1 2024 EARNINGS and 2% quarter dance on global comparable sales growth (the chain's 13th consecutive quarter of comparable sales growth), CEO Chris Kempczinski pledged to deliver more value to consumers.

McDonald's CEO Chris Kempczinski (Nuccio DiNuzzo/Chicago Tribune/Tribune News Service via Getty Images)

“McDonald's has a long history of being the destination of choice for value, and it is imperative that we continue to keep affordability at the forefront for our customers,” Kempczinski said on a call with investors. “We have literally written the playbook on value and are committed to maintaining our leadership within the industry.”

Connected: McDonald's CEO says 'affordability' is on the way as the company struggles through falling sales

“Eating at home has become more affordable,” Kempczinski said during the call. “The battleground is certainly with that low-income consumer.”

A recent study by FinanceBuzz found that McDonald's prices have almost doubled (increased by about 100%) from 2014 to 2024 across all popular items, making it the chain with the highest price increase among its rivals.

In February, during a fourth-quarter 2023 earnings call, Kempczinski hinted that the company would pay “perhaps more attention” to “affordability” after a hit to global sales during the quarter due to higher fuel prices. menu.

McDonald's was down up just over 6.7% as of Friday afternoon.

Connected: McDonald's CFO says 'Everyone is fighting for fewer customers' as earnings reports show people are spending less on fast food



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *