McDonald's executives admit diners think prices are too high, say they're working to create value

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Submitted ⁨⁨3⁩ ⁨months⁩ ago⁩ by ⁨MicroWave@lemmy.world⁩ to ⁨economics@lemmy.world⁩

https://www.cnbc.com/2024/07/29/mcdonalds-earnings-executives-say-prices-are-too-high.html

McDonald’s executives acknowledged during an earnings call Monday that diners consider the company’s prices too high, and said they are taking a “forensic approach” to evaluating prices.
Amid a broader consumer pullback and increasing prices, fast-food chains have had a difficult time drawing in lower-income diners.
The company’s recent $5 value meal offering was initially successful in bringing lower-income diners back to stores but has yet to translate into higher sales, company executives said.

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Orbituary@lemmy.world ⁨3⁩ ⁨months⁩ ago
Stop. Eating. This. Shit.

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itsgroundhogdayagain@lemmy.ml ⁨3⁩ ⁨months⁩ ago
More sawdust!

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- Montagge@lemmy.zip ⁨3⁩ ⁨months⁩ ago
  You think we can afford sawdust?!? More floor sweepings! They’re locally sourced!
  
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  - the_post_of_tom_joad@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
    There’s already sawdust (ok not really) but a lot of cellulose filler in those burgers (if you’re in the US)
    
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AlexWIWA@lemmy.ml ⁨3⁩ ⁨months⁩ ago
It’s more expensive than in and out these days. McDonalds is absolutely not worth what they’re charging.

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floquant@lemmy.dbzer0.com ⁨3⁩ ⁨months⁩ ago
“Create value”

God. Please just fucking stop. What value do they want to “create”? It’s shitty food. Its “value” is in being cheap.

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Hellinabucket@lemmy.world ⁨3⁩ ⁨months⁩ ago
The only thing I ever get from McDonald’s anymore is happy meals for my kids. At one store it’s 6 dollars, at the a mile down the road it’s 4.

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aseriesoftubes@lemmy.world ⁨3⁩ ⁨months⁩ ago
Have they considered making their food less shitty at the same price? The race to the bottom price-wise never ends well.

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CptOblivius@lemmy.world ⁨3⁩ ⁨months⁩ ago
I don’t go to McDonald’s often. But the last time I went I couldn’t believe the prices, and worse was the quality. Since COVID everything has gone up but McDonald’s doubled that and dropped quality too. It is so terrible now. Even considering the low standard it had before.

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slazer2au@lemmy.world ⁨3⁩ ⁨months⁩ ago
More value. Yet you didn’t say to whom, the customer or shareholders.

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chemical_cutthroat@lemmy.world ⁨3⁩ ⁨months⁩ ago
I’ve been in restaurants for most of my adult life, and even our own pricing has gotten out of hand. I don’t like it, but that’s food costs. We can’t sell a protein dish for $10 if the protein is $7.50 at cost. I’m not getting McDonald’s back here, I’m sure their corporate greed is excessive, but it’s not just them dealing with higher priced food. We try to make as much as we can in house to avoid preservatives and chemical bullshit, as well as maintaining a lower cost, but even that is getting to be too much and finding skilled labor that can prep things that a lot of other restaurants buy outright is getting expensive, too. Luckily, the place I work at now is a brewery as well, and the beer sales can subsidize our food costs, but if we didn’t have that beer, we’d be fucking done.

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the_post_of_tom_joad@sh.itjust.works ⁨3⁩ ⁨months⁩ ago
McDs always has the worst flavor of the fast food choices in my estimation… Do they still taste like a gas station burger except smaller patties and a flavored like someone spilled sugar on the grill?

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DaddleDew@lemmy.world ⁨3⁩ ⁨months⁩ ago
Their food is a result of decades of small incremental changes to make the food cheaper and profitable, a few pennies at a time. Fast forward to today and what MacDonald’s has to offer now doesn’t even taste like burgers anymore.

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SplashJackson@lemmy.ca ⁨3⁩ ⁨months⁩ ago
“Create value” howsabout you create some cheaper prices?

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DogPeePoo@lemm.ee ⁨3⁩ ⁨months⁩ ago
McShit 🐩💩

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