McDonald’s CEO Makes Major Promise Amid Widespread Rage Over Pricing

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Kay Smythe News and Commentary Writer
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McDonald’s CEO Chris Kempczinski said Monday that the ridiculously overpriced menu is turning off customers, and seemed to promise to focus on increasing affordability throughout 2024.

Data suggests that low-income customers — those making less than $45,000 a year —  have pretty much stopped going to McDonald’s, according to the New York Post. The turn-off is apparently down to increased inflation, which is hurting all of us, and the sky-high prices McDonald’s now demands for its tasteless plastic food.

The Big Mac combo meal is nearly $18, but who in their right mind would be okay paying this more than once? Not many people, as global sales in the last quarter grew just 3.4%, falling well short of the 4.7% anticipated. And the impact is being felt by shareholders, who saw their stock plummet by nearly 4% on Monday.

Various people have called out franchisees for their extortionate prices, including one in Connecticut who charged $7.29 for an Egg McMuffin, and $5.69 for a side of hash browns.

“I think what you’re going to see as you head into 2024 is probably more attention to what I would describe as affordability,” Kempczinski apparently said on a Monday call with analysts. “Eating at home has become more affordable. The battleground is certainly with that low-income consumer.” (RELATED: Key ‘Macro’ Indicator Of Global Economic Decline Comes Out Of … McDonald’s)

It’s unclear how McDonald’s plans to reduce its costs. It’s doubtful this will happen in places like California, where lawmakers demand a $20 per hour minimum wage, leading both McDonald’s and Chipotle to raise prices throughout the Golden State at the start of 2024.