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McDonald’s sales have been weaker than expected, which is why it plans to rethink its pricing.
Fast food chain McDonald’s is rethinking its pricing strategy, says BBC BBC.
According to the BBC, customers are spending less money at McDonald’s than before, which is naturally reflected in the decline in sales. From April to June, sales at restaurants open for more than a year fell 1% from the previous year. The last similar decline occurred during the COVID-19 pandemic.
CNBC More than 60 percent of respondents to a survey conducted by Lending Tree said they have cut back on fast food because it is too expensive.
“Customers understand the pressure”
CEO of McDonald’s John Kempczinskin The poor results have forced the company to review its pricing again. Also, the restaurant is expected to launch new campaigns in the coming months.
“We know how to do this. We are working with our franchisees to make the necessary adjustments,” he said.
General Manager, McDonald’s USA Joe Erlinger However, we believe that our clients understand the pressures of the economy and rising cost of living.
– We believe it is important to consider these factors in order to increase our market share and restore sustainable, customer-based growth to the brand.
However, in a conference call with investors, Kempczinski acknowledged that the company still has work to do to restore its value, and he acknowledged that price increases due to inflation are causing consumers to rethink their buying habits.
– He said that while some markets have been able to adapt, some require a more comprehensive rethink.
“Consumers are very demanding”
The company said one reason for the drop in demand for McDonald’s was the boycott movement sparked by the Gaza war, which was particularly evident in France.
“Consumers are becoming increasingly demanding about where, when and what they eat, and we do not expect this environment to change significantly in the coming quarters,” the McDonald’s boss said.
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