Hello everyone! Let’s dive into the sizzling news from the world of fast food, where McDonald’s is shaking off claims of sky-high prices with a firm stance on reality. Ready for the scoop? Let’s go!
McDonald’s has been under the microscope recently, with reports swirling about extravagant price hikes. But McDonald’s U.S. President Joe Erlinger isn’t having any of it. In a statement on May 29, Erlinger declared that these claims are exaggerated and inaccurate. “For a brand that proudly serves nearly 90% of the U.S. population every year, we feel a responsibility to make sure the real facts are available,” he said.
One viral tweet from July 2023 really stirred the pot, showing a McDonald’s menu where a Big Mac meal was priced at a whopping $17.59 and a Quarter Pounder with cheese and bacon at $18.99.
Erlinger was quick to clarify that this menu was from a franchise location in Connecticut and doesn’t reflect the pricing norm across the nation’s 13,700+ McDonald’s locations.
Erlinger didn’t hold back on his frustration, saying, “I can tell you that it frustrates and worries me, and many of our franchisees, when I hear about an $18 Big Mac meal being sold – even if it was at one location in the U.S. out of more than 13,700.” He emphasized that such high prices are not the rule but an exception and debunked the myth that Big Mac prices have doubled since 2019.
Let’s crunch some numbers! The average price of a Big Mac has risen from $4.39 in 2019 to $5.29 today, which is a 21% increase over five years. Other menu items, like the 10-piece Chicken Nugget meal, saw a 28% price increase over the same period. So, while prices have gone up, it’s nowhere near the 100% hike some reports suggested.
Erlinger also touched on how franchisees set their own menu prices, accounting for the increased costs of running their businesses. “In doing so, they work hard to minimize the impact of price increases on our fans,” he explained.
Now, let’s talk about the bigger picture. With the cost of living on the rise, fast food lovers are feeling the pinch. A recent LendingTree study found that nearly 80% of the 2,000 Americans surveyed now see fast food as a luxury. Despite this, three out of four people are still grabbing fast food at least once a week, but 62% are cutting back due to the rising prices.
In wrapping up his statement, Erlinger expressed hope that customers recognize McDonald’s efforts to maintain value and affordability. “We remain laser-focused on value and affordability,” he assured.
So there you have it, folks! McDonald’s is pushing back against claims of outrageous price hikes, standing by their commitment to provide value. Keep an eye out for those golden arches, and rest assured, they’re working to keep those prices in check. Until next time, stay hungry and stay informed!
