McDonald's has announced a shift towards affordability after experiencing weaker-than-expected sales at its U.S. stores and a subsequent drop in stock prices, acknowledging that low-income customers earning less than $45,000 annually have reduced their orders from the fast-food chain. The company's CEO Chris Kempczinski admitted on an earnings call that the price for a Big Mac, fries, and drink has risen to nearly $18 at some locations, leading to a loss of customers, particularly those at the lower income end. This move comes amidst a broader backlash from consumers over significant price increases, with McDonald's stock dropping and the CEO promising to address affordability in light of the earnings outlook. In Seattle, the introduction of a mandatory $5 fee on delivery apps intended to support drivers' living wages has resulted in a sharp decrease in sales, causing difficulty for drivers to pay their bills. The fee has affected companies such as DoorDash, Uber Eats, Instacart, and Grubhub, with customers and drivers both feeling the financial pinch due to Seattle's newly enacted minimum pay law for app-based workers.
After being recently pilloried online for a Connecticut restaurant’s $18 Big Mac combo meals and $7 Egg McMuffin, McDonald’s is vowing to focus more on affordability after it and a handful of major restaurant brands saw consumers balk at pricier menu items https://t.co/00q4UGSZJg
MCDONALD'S PLANS TO LOWER PRICES AMID OUTRAGED CUSTOMER BACKLASH (MSN) McDonald's has been under fire for months from consumers who are outraged over significant price increases at the once-affordable fast-food chain. But in 2024, fans of the Golden Arches may finally see some… https://t.co/VDZsAeCI25
Customers and food and grocery delivery drivers are feeling the pinch that has reportedly followed Seattle’s newly enacted minimum pay law for app-based workers, affecting companies like DoorDash, Uber Eats, Instacart, and Grubhub: https://t.co/vH2SGV2ewM
McDonald’s officials said the company will focus more on affordability after reporting weaker-than-expected sales at its U.S. stores. https://t.co/y1X9pEWoKJ
Y'all stopped buying McDonald's because it got so expensive so the CEO says "affordability" is going to be a priority now https://t.co/cSmqNa9zsc https://t.co/cSmqNa9zsc
As food companies pass along higher labor and ingredient costs to consumers, diners are eating less fast food and griping on social media that their go-to cheap meals aren’t so cheap anymore. https://t.co/edXthV5z7P
Customers and food and grocery delivery drivers are feeling the pinch that has reportedly followed Seattle’s newly-enacted minimum pay law for app-based workers, affecting companies like DoorDash, Uber Eats, Instacart, and Grubhub. https://t.co/vH2SGV2ewM
McDonald's stock drops, CEO promises affordability amid earnings outlook https://t.co/pDXxoHOCN1
Oh, my once beloved @McDonalds, it seems you've made the boo-boo of supersizing prices so much to preserve your profit margin that you made too many folks realize it's cheaper (and healthier) to eat at home. You're losing customers, particularly at the low income end. Shame...
"Low-income customers making less than $45k per year have largely stopped ordering from McDonald’s, the fast-food giant’s CEO Chris Kempczinski admitted Monday on an earnings call with Wall Street analysts. A Big Mac, fries and drink has risen to nearly $18 at a handful of…
McDonald’s to focus more on affordability after sales at US stores decrease https://t.co/h31vpSxsyj
PROGRESSIVISM: Seattle's "living wage" fee meant to help delivery drivers is causing drivers to make less because people stopped placing orders https://t.co/zXRRf7BXyf https://t.co/zXRRf7BXyf
Seattle introduced a mandatory $5 fee on delivery apps to cover their driver’s living wage and sales were almost cut in half. Now drivers are having trouble paying their bills. Centralized economic planning strikes again! https://t.co/eHuJdbQP32