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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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[–] johannesvanderwhales 5 points 4 months ago* (last edited 4 months ago)

Personally I stopped eating fast food almost entirely (I mostly cook for myself), but food deserts are real and many people have few reasonable options. I don't think anyone eating McDonald's is under the impression that it's good for them.