Mcdonald's Chief Executive Officer Chris Kempczinski has announced that the fast food giant will likely "revamp" its value meal as President Joe Biden's economic program, also known as "Bidenomics," continues to strain the wallets of lower-income customers.
In July, McDonald's reported a decline in same-store sales for the first time in nearly four years, a drop attributed to tightened consumer spending following prolonged periods of high inflation. In response, the fast-food giant introduced a $5 summer deal in June, designed to offer an affordable option for customers struggling amid inflation and high interest rates.
The limited-time meal deal, which includes a choice of a McDouble, McChicken sandwich or a 4-piece Chicken McNuggets, along with a small fry and soft drink, has been well-received by customers. And now that customers continue to grapple with economic strain, McDonald's extended the offering until December. (Related: Bidenomics: Big Mac extra value meal now costs $10 more than it did during Trump's era.)
"We're committed to keeping our prices as affordable as possible," Joe Erlinger, president of McDonald’s USA, said in September.
McDonald's is also releasing app-exclusive promotions, including a fried chicken sandwich for $2. Kempczinski is also looking at ways to do a complete "reset" or overhaul of its value offerings, noting that the number of $1, $2 and $3 menu offerings has shrunk in recent years amid rising food and operating costs.
In line with this, Kempczinski also noted that chicken, a food way cheaper than beef, could play a key role in offering more affordable meal options.
"It's easier to deliver value on chicken products than it is on beef products," he explained, adding that beef prices are currently more than twice those of chicken on a per-pound basis.
"We're starting to talk about 2025, and my message to our teams has been: 'We need to be preparing for another challenging year,'" Kempczinski said. "We need to be making sure that we've got a really strong value proposition in all of our markets."
Harris will continue Bidenomics despite its negative consequences if elected president
In an article for Zero Hedge, Tyler Durden wrote that economic conditions for low-income consumers are expected to worsen through the end of the year, particularly due to potential increases in energy prices.
"Economic conditions for the working poor will only get more challenging through the end of the year. MCD reports third-quarter earnings on Oct. 29. The lingering problem for consumers is an energy price shock at the pump could materialize if Israel begins bombing Iran's crude oil export facilities. Consumers need to buckle up," Durden wrote.
Rep. Randy Weber (R-TX) noted that "Harris would not have changed a damn thing" from the policies of the Biden administration.
"If you think four more years of Harris won't mean the same high gas prices, inflation, open borders and crime, I've got oceanfront property in Oklahoma to sell you! Kamala Harris admitted she wouldn't change a thing from Biden's disastrous policies," Weber posted on X, along with a clip of Harris' guesting on ABC's "The View" on Oct. 8.
In other words, there will be no respite for these economic strains if Harris wins in November.
Follow Collapse.news for similar stories.
Watch this clip from Fox Business as former U.S. International Trade Commission Chief Peter Morici discusses how President Joe Biden's management of the American economy has been "a failure."
This video is from the News Clips channel on Brighteon.com.
More related stories:
BIDENOMICS: UPS cuts 12,000 jobs due to decreased shipping volume, tense union negotiations.
Bidenomics in shambles: Microsoft cuts 1,900 jobs in gaming market.
Inflation comes roaring back as Bidenomics harms American households.
Major Burger King franchisee files for BANKRUPTCY as fast-food industry faces doom of "Bidenomics."
Sources include:
Please contact us for more information.