Men’s Journal – McDonald’s is losing some of its low-income customers, and it sounds like the fast food chain has a plan to get them back.
During an earnings call last week, McDonald’s CEO Chris Kempczinski admitted that the company’s sales with low-income customers have been slumping in recent months despite the company’s best efforts to appeal to those customers.
Now, it sounds like the company is planning to make some changes to its pricing in order to address those concerns, which is good news for anyone who is hoping for some McDonald’s deals in the future.
McDonald’s has made several moves in recent months in an attempt to appeal to budget-conscious customers.
Last summer, the fast food chain rolled out its $5 Meal Deal. McDonald’s then debuted its McValue menu earlier this year, which included a Buy One, Add One for $1 deal as well as the new Daily Double deal.
McDonald’s had a very successful launch of a budget item last month when it brought back the Snack Wrap. The item was so popular that it even led to a lettuce shortage in some McDonald’s locations due to the unexpected demand.
Despite the company’s best efforts, Kempczinski said that McDonald’s is still losing its budget-conscious customers, which is a problem for McDonald’s.
“The U.S. remained challenging as visits across the industry by low-income consumers once again declined by double digits versus the prior year period,” Kempczinski said via The Street.
“Reengaging the low-income consumer is critical as they typically visit our restaurants more frequently than middle- and high-income consumers.”
Kempczinski pointed out that these low-income customers are facing a challenging and uncertain economy, which could contribute to the loss of customers …
