Anyone who's been out to eat recently knows that food prices are going through the roof, even in places that you wouldn't expect it, like McDonald's.
Sales for the fast-food giant were down in 2023, but profits were up.
because in some places they're charging 17 bucks for a Big Mac combo or 19 bucks for a quarter pounder with cheese combo.
And they haven't spared the price hikes on breakfast food.
Some McDonald's customers are paying seven bucks for an egg McMuffin or six bucks for hash browns.
The fast-food giant says low-income customers are buying less McDonald's, which isn't a bad thing in my opinion.
But CEO Chris Kamczynski told investors that he intends to win those customers back.
He said, “I think what you're going to see as you head into 2024 is probably more attention to what I would describe as affordability.”
He continued, “We are optimizing price while limiting customer resistance.”
I can almost always guarantee that statements like that are bad for customers like you and me.
First of all, that's not easy to do. Wages are higher for almost all employees. And that money has to come from somewhere. Which usually means fewer jobs. Or worse, lower quality food. Or likely both.
What do you think? And what food price has surprised you recently?
Tell me in the comments or support my work at jamesbrowntv.substack.com.
You can also leave me a message at 585-484-0339.
On that note, I'm James Brown, and as always, be well.
Share this post