Most people know that McDonald’s has been under fire recently because of their high prices, including an $18 Big Mac meal in Connecticut last year. Last month, the chain shared a plan to focus on affordability due to customer complaints and they are introducing low-priced meal bundles as a first step to implement changes.
McDonald’s CFO, Ian Borden said in a March 13 UBS Global Consumer and Retail Conference that lower-income consumers are “expecting greater value for money than they have previously” and says the company will actively promote meal bundles in 2024. He continued with “We want to make sure the consumer knows what’s available and obviously is thinking of us when they’re making their choices.”
Borden says the McSmart meal introduced in Germany that was launched in 2023 did “incredibly well” by offering two burgers, medium fries, and a soft drink for the equivalent of $6.53 USD. He also expects price increases to come down as inflation slows and says McDonald’s will be “a lot more active” in bringing more compelling offers to its digital channels. There are currently 34 million active loyalty members in the program. Finally, there are plans to launch bigger burgers with a couple currently being tested in several markets. If the tests are successful, bigger burgers could be coming to McDonald’s locations throughout the globe.
Source: EatThis,NotThat!