Families find it tougher to justify eating out as fast food dollar menus disappear. To combat inflation and growing food costs, McDonald's has raised menu pricing nationwide.
Casual and long-time consumers are gripping their wallets as their cheap fast food sanctuary abandons its low-cost strategy.
A hash brown costs roughly $3, and some social media users are comparing it to three pounds of potatoes. One extreme example is Darien, Connecticut's McDonald's $18 Big Mac meal (via CNN).
The Golden Arches now charges families of four more to $100 for once-cheap meals. Rising costs have fans lamenting McDonald's Dollar Menu as they negotiate an ever-changing environment.
After discontinuing its Dollar Menu in 2013, the fast food chain has tried to offer value. It offers discounts and rewards to loyal customers via the McDonald's app.
Despite these few benefits, the business hopes to modify prices this year to increase sales. McDonald's costs have soared, yet the fast-food chain wants to attract low-income, cost-conscious families in 2024.
McDonald's CFO, Ian Borden, plans to emphasize "thoughtful" collaboration with franchise owners this year. In a 2023 earnings call, Borden said, "We certainly know consumers are more weary or
weary of pricing, and we're going to continue to be consumer-led in our pricing decisions as we kind of look forward to 2024 and knowing that the environment will continue to be competitive."
McDonald's raised its pricing by 10% last year, while grocery and restaurant prices rose 1.3% and 5.2%, respectively. Global inflation is dropping, but it's still above target in February.
To avoid overspending, customers are ordering fewer things. Instead of eliminating fan favorites in 2024, we believe McDonald's can offer more inexpensive options for everyone.