McDonald’s customers are expressing their frustration after the fast food giant revealed its recent surge in profits was due to “strategic menu price increases.”
The announcement has sparked upset among some who feel that Macca’s is simply becoming too expensive.
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During an earnings call with investors, McDonald’s Chief Financial Officer Ian Borden confirmed that prices had gone up in the third quarter, although he did not disclose the exact percentage. However, it is expected that the cost of menu items will rise by just over 10% for the full year, marking the second consecutive annual 10% increase.
This news comes as no surprise to Australian customers, who have also noticed higher prices at their local McDonald’s. The company acknowledged the price hikes, attributing them to operating in a higher-cost environment. Despite the increase, McDonald’s reassured its customers that it would strive to deliver great value.
However, the confirmation of the price increases has left many McDonald’s fans worldwide outraged. Social media platforms have been buzzing with posts expressing shock and disappointment at the exorbitant prices. One customer shared a photo of their local McDonald’s menu, showing burgers priced at astonishing levels. Another customer, in a TikTok video, expressed disbelief at paying $16 for a Happy Meal.
The general sentiment among customers is that McDonald’s is no longer affordable or convenient. Many reminisce about the days when a Big Mac meal cost just $2.99 and expressed their willingness to spend $20 on a meal at a higher-end establishment instead.
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Similar complaints have been voiced by Australians, with some remarking that McDonald’s prices now rival those of sit-down restaurants. Customers note that a cheeseburger, which used to cost $3, now sets them back $5.
It’s worth noting that prices can vary between McDonald’s locations due to the franchise model, where individual owners have some flexibility in pricing.
While McDonald’s continues to experience soaring profits, the company risks alienating price-sensitive customers who may seek alternatives. As consumer sentiment shifts towards affordability, it remains to be seen how McDonald’s will navigate this delicate balance between profitability and customer satisfaction.