McDonald's has realized that its Dollar Menu era is over. Now, the fast-food giant needs to convince customers to pay more.
Hollis Johnson/Business InsiderUS sales growth was driven by the average customer spending more at the fast-food giant, even as customer traffic slipped, the company announced during its first-quarter earnings call on Tuesday.
In essence, McDonald's has convinced — or forced — customers to spend more money as the chain steers them away from the uber-cheap deals of the Dollar Menu era and towards pricier options. The $1 $2 $3 menu failed to produce the results the fast-food giant wanted. In October, Neil Saunders, managing director of GlobalData Retail, wrote in a note to clients that McDonald's had"focused too strongly on the Dollar Menu."
Meanwhile, McDonald's gave control of the $1 $2 $3 menu over to franchisees, who could add and subtract items based on local preferences and profitability. Some of the most significant deals,The 2 for $5 Mix and Match helps drive higher average checks and franchisee profitability, BTIG analyst Peter Saleh wrote in a note on Monday.
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