On Friday, Bloomberg News quoted a source as saying that the fast food chain McDonald’s is preparing to offer meals priced at five dollars in its American restaurants to attract a larger number of customers affected by inflation and boycott to its outlets.
The Bloomberg News report said the meals may include a McChicken or McDouble, in addition to French fries and a drink.
The company’s shares rose 2.5 percent in afternoon trading after the report appeared.
McDonald’s CEO Chris Kempczinski remarked in January that the company experienced “tangible damage” in various markets across the Middle East and elsewhere, as a consequence of Israel’s military actions in Gaza. This led to a global boycott by Arabs, Muslims, and international allies against brands perceived as supporting Israel, in solidarity with Gaza.
McDonald’s is one of the most famous and largest fast food companies in the world, as it owns more than 40,000 branches in more than 120 countries. But their franchises are often owned by local companies that operate independently.
Another reason low-income customers are avoiding global fast food chains like McDonald’s and Starbucks is due to the high cost of living crisis, leading them to prefer eating at home. This trend has prompted these companies to offer more promotions in an effort to attract them to their outlets.
The giant corporation, significantly impacted by the purchasing habits of low-income individuals and boycotts, experienced a decline in its global sales growth for the fourth consecutive quarter. This situation compelled the company to enhance its meal offerings in response.
It has not yet been possible to obtain a comment from McDonald’s.
