MCDONALD’S has confirmed that American customers will soon see significant changes to its menu.
The fast food giant highlighted its focus on price management and expanding offerings during an earnings call Tuesday morning.
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CEO Chris Kempczinski explained that the brand only recently returned to profit margins consistent with levels prior to the height of the coronavirus pandemic in 2020.
He noticed in the call that as a result, McDonald’s has “the ability to think about what we do from a value proposition going forward.”
That means considering the price of key menu items, according to Kempczinski.
The CEO said the McDonald’s US team would specifically compare and evaluate the menu to find “affordable prices that are attractive to consumers.”
Kempczinski further noted that McDonald’s has seen its customers being more picky with their money, and along with the price changes, the brand would be adjusting to offer multiple offerings on the menu to continue bringing fans back.
The “menu innovation,” as the CEO called it, would be kept secret for now.
“We are seeing our satisfaction ratings increase in the U.S. and so we will, of course, have menu innovations happening throughout the year,” he told investors.
“It’s part of what we do.”
Still, he hasn’t revealed the details of the menu changes yet.
“I won’t go into detail exactly what the menu innovation will look like and when it will occur, but you can certainly expect that we will use the menu innovation as well as find ways to engage our guests,” added Kempczinski.
McDonald’s Chief Financial Officer Ian Borden also echoed Kempczinski’s comments about the company’s focus moving forward.
Borden said it would be important for the chain to consistently “get value and affordability right.”
He noted that “core” menu items would need to remain accessible to all McDonald’s fans.
“It’s making sure we have a basic meal package that’s affordable and attractive and doing that generally with products that consumers know about and that we have strong equity behind,” the CFO explained in Tuesday’s earnings. to call.
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