McDonald’s hopes to boost sales by adding more chicken options to the menu and by collaborating with more celebrities, CNBC reported Monday.
In 2021 and 2022, McDonald’s expects mid-single digit sales growth as the restaurant recovers from the coronavirus pandemic, according to CNBC.
The fast-food restaurant plans to drive up sales growth by collaborating with celebrities and trying out a loyalty program in the United States. (RELATED: REPORT: Survey Finds Hundreds Of McDonald’s Workers Have Been Assaulted By Anti-Mask Customers)
McDonald’s expects annual capital expenditures of $2.3 billion, according to CNBC. McDonalds told investors that half of that will be used to build new restaurants. 1.5% to 2% of McDonald’s systemwide sales growth in 2022 will come from those new restaurants, CNBC reports.
The fast-food restaurant’s third quarter results surpassed analysts’ estimates for earnings and revenue, according to CNBC.
The special promotion to order Travis Scott’s favorite McDonald’s meal contributed to the restaurant’s return to growth in the third quarter.
Travis Scott surprises crew and customers at McDonald’s for the launch of the Travis Scott Meal in Downey, California. (Photo by Jerritt Clark/Getty Images for McDonald’s)
Limited edition Spicy Chicken McNuggets also boosted sales. (RELATED: Major Fast Food Chain Ramps Up Use Of Robot Fry Cooks)
McDonald’s stock has risen almost 10% since the start of the year. In premarket trading, shares are up almost 4%, according to CNBC.
A worker wears a mask and gloves as she hands soft drinks to a customer at a McDonald’s drive-thru on April 22, 2020 in Novato, California. (Photo by Justin Sullivan/Getty Images)
The company is adjusting to consumer behavior during the coronavirus pandemic. This year, digital sales are projected to exceed $10 billion, CNBC reports. McDonald’s plans to launch an app that includes digital ordering and a digital menu to simplify the buying process. McDonald’s will test a loyalty program in Phoenix, Arizona.
The fast-food restaurant is also testing out automated order taking, digital order drive-thru lanes and restaurants without indoor dining, according to CNBC. Most of the new McDonald’s restaurants in the U.S., France and the U.K will have drive-thru lanes.
The menu will be changed as well. About 70% of sales are from McDonald’s core menu that includes Chicken McNuggets and Big Macs. The buns on all burgers will be toasted until golden brown and the patties will be grilled differently, according to CNBC. The company will also launch its Crispy Chicken Sandwich early next year.
The fast food company is also testing out their own meatless patty created with Beyond Meat. The meatless patty can be expected in the next couple years, according to CNBC.