McDonald’s has observed a shift in consumer behavior as more low-income diners are choosing to eat at home due to rising fast-food prices. The company’s CFO, Ian Borden, noted that these consumers are expecting greater value for money when they do dine out. As a response, McDonald’s plans to emphasize affordability by promoting its value deals and app offers more heavily. This comes after the company increased its US prices by around 10% in both 2022 and 2023, contributing to a system-wide sales growth of more than 30% since 2019. However, with inflation cooling, future price increases are expected to be less significant.
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