McDonald’s plans to step up deals and value messaging to combat slowing sales.
said inflation-weary customers are eating out less often in many big markets. In the first quarter, fast food traffic was flat or down in the U.S., Australia, Canada, Japan, the United Kingdom and Germany. said Tuesday during a conference call with investors. “It may be more pronounced with lower-income consumers, but its important to recognize that all income cohorts are seeking value.” open at least a year -- rose 1.9% worldwide in the January-March period.
Kempczinski checked his McDonald's app during the call and noted that there were multiple deals available in his area, including one Big Mac for 29 cents when you buy another. And Kempczinski said 90% of U.S. restaurants are offering meal bundles for $4 or less.But Kempczinski said McDonald's needs a nationwide value message and marketing to back it up. In some areas, it's losing out to competitors on customers' perception of value and affordability, he said.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyThings aren't looking much brighter overseas. In McDonald's international franchised markets, same-store sales fell 0.2% in the first quarter as customers in the Middle East and Muslim-majority markets like Indonesia and Malaysia boycotted McDonald's for its perceived support of Israel.
“We’re not expecting to see any meaningful improvement in the impact on that until the war is over," he said.
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