McDonald’s CEO acknowledged a decline in sales due to increased menu prices, with the Big Mac combo priced at nearly $18.
The company plans to focus on affordability in the future.
Some global same-store sales fell short of expectations, and low-income customers have stopped visiting due to inflation.
“I think what you’re going to see as you head into 2024 is probably more attention to what I would describe as affordability,” CEO Chris Kempczinski said.
Prices at McDonald’s are expected to increase at a slower pace, and fast food prices in general may rise due to minimum wage hikes.
“Eating at home has become more affordable,” Kempczinski said. “The battleground is certainly with that low-income consumer.”
“Last week, a McDonald’s location in Connecticut was criticized after a customer was charged $7.29 for an Egg McMuffin and nearly $5.69 for a side of hash browns. The franchise in Darien, Connecticut was called out for charging $17.59 for a Big Mac combo,” one report noted.
Read Also:
Rep. Ilhan Omar Accused Of Committing Treason, Faces Censure Resolution
Man Who Leaked Trump’s Tax Returns Learns His Fate