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McDonald's executives admit diners think prices are too high, say they're working to create value (www.cnbc.com)

submitted 4 months ago by MicroWave to c/economics

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McDonald’s executives acknowledged during an earnings call Monday that diners consider the company’s prices too high, and said they are taking a “forensic approach” to evaluating prices.
Amid a broader consumer pullback and increasing prices, fast-food chains have had a difficult time drawing in lower-income diners.
The company’s recent $5 value meal offering was initially successful in bringing lower-income diners back to stores but has yet to translate into higher sales, company executives said.

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[–] DaddleDew 8 points 4 months ago (1 children)

Their food is a result of decades of small incremental changes to make the food cheaper and profitable, a few pennies at a time. Fast forward to today and what MacDonald's has to offer now doesn't even taste like burgers anymore.

[–] shalafi 1 points 4 months ago

This killed Red Lobster.