CEO Chris Kempczinski said the company had to remain 'laser-focused' on keeping prices affordable so that customers continue to return.
Mon, May 13th 2024 at 2:21 AMUNDATED - McDonald's is reportedly considering a new $5 menu to win back inflation-wary customers.
citing sources familiar with the company's plans, McDonald's is considering adding the $5 menu to locations across the United States.Four-piece chicken nuggets Each item would come with fries and a drink, per CBS. Sources told the network that McDonald's corporate offices were still in talks with franchise owners about the menu. It comes shortly after McDonald's executives reported slowly growth in foot traffic to its locations, according to CBS.
Americans have been cutting back on fast-food dining after many chains began increasing prices to offset higher labor and ingredient costs, according to the network. During a earnings call on April 30, CEO Chris Kempczinski said the company had to remain "laser-focused" on keeping prices affordable so that customers continue to return.
"Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry," Kempczinski said, per CBS. "It's imperative that we continue to keep affordability at the forefront for our customers."
Consumer Trends CEO Chris Kempczinski Fast Food Money Mcdonald's Inflation Customers CBS News Franchise Owners Affordability Fast-Food Dining
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