McDonald's launches 'McDonald's > NEXT' growth strategy to address rising competition and inflation pressures
By
Amelia Lucas
Warm and crisp on the edges. A bagel with a bit of bite.
Summary
McDonald's has unveiled a new global growth strategy called "McDonald's > NEXT" at its Worldwide Convention in Las Vegas. The plan focuses on four pillars: new restaurant design, better tasting food and drinks, consumer-led innovation, and improved customer service. The strategy comes as the fast-food giant faces increased competition from new rivals and consumer spending constrained by inflation and high gas prices. This replaces their previous "Accelerating the Arches" strategy.
Key quotes
· 3 pulledMcDonald's on Monday unveiled its latest global growth strategy to help the fast-food giant become customers' first choice as it faces new rivals and consumer spending stretched by high gas prices.
A new restaurant design, better tasting food and drinks, consumer-led innovation and improved customer service are the four cornerstones of the new plan, which the company calls 'McDonald's > NEXT.'
McDonald's new growth plan comes as inflation and high gas prices mean restaurants are competing for a smaller pool of customers.
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