Higher prices boost McDonald’s sales in the first quarter
McDonald’s has been raising prices gradually over the past few years as part of its strategy to boost profits. In some cases, prices have increased by as much as 10%, particularly on menu items that are most popular among customers.
McDonald’s CEO, Chris Kempczinski, said in a statement, “Our first quarter results reflect the successful execution of our growth strategy, which includes raising prices to offset inflationary pressures. We are also investing in new technology and restaurant designs to enhance the customer experience and drive long-term growth.”
McDonald’s has also been experimenting with new menu items to attract more customers. In 2022, the company introduced a new plant-based burger called the McPlant, which has been well-received by customers and is now available in many McDonald’s restaurants around the world.
The COVID-19 pandemic has had a significant impact on the fast-food industry, and McDonald’s is no exception. The company has had to adapt to new safety protocols and changes in customer behavior, such as a shift towards online ordering and delivery.
Despite these challenges, McDonald’s has remained a strong performer in the fast-food industry. The company has a large and loyal customer base, and its brand is recognized around the world. With its focus on innovation and customer experience, McDonald’s is well-positioned for continued success in the future.
Higher prices have also helped McDonald’s franchisees to increase their profits. The company’s franchisees operate more than 90% of its restaurants worldwide. The higher prices have enabled them to cover the rising costs of running a restaurant and generate more revenue.