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McDonald’s has made significant strides since Steve Easterbrook took over in 2015.
Earlier this year, Easterbrook said: “We’re building a better McDonald’s and winning back customers with great-tasting food, compelling value, and an enhanced experience. Our markets have built sustainable platforms, integrated, and grounded in deep local insights. They’ve enabled us to move with greater speed, efficiency, and impact to meet the evolving needs of our customers. While we’ve been building momentum across the McDonald’s system, and our performance is globally broad-based, I’m particularly pleased that the U.S. business has regained its stride.”
Borrowing a piece of its past, McDonald’s will try and cash in on its building momentum by bringing back its Dollar Menu−this time items will cost $1, $2 or $3. McDonald’s eliminated its previous Dollar Menu four years ago on the heels of franchisees’ complaints of lower profits due to higher costs for ingredients.
The “$1 $2 $3 Dollar Menu” is slated to launch on Jan. 4, 2018, and become a permanent part of the McDonald’s nationwide menu. Some of the new menu items include a sausage burrito, any size soft drink, or a cheeseburger for $1, a bacon McDouble or a small McCafe drink for $2, and a Happy Meal or a triple cheeseburger for $3.
McDonald’s have indicated that the company’s stock has now risen to an all-time high due, in part, to its combination of digital, remodels, and delivery (UberEats), along with its new-age initiatives.
Evan Magliocca, brand marketing manager for Baseman Insights & Marketing, told Loyalty360 that while McDonald’s has built notable momentum, the Dollar Menu “definitely squeezes margins for franchises so that could be an issue long-term. The success depends on how they plan on utilizing the menu. It could be a great option to pulse into their evergreen options to drive sales.”
Competitors such as Dunkin’ Donuts and Taco Bell have fueled McDonald’s decision to resuscitate its Dollar Menu.
“The competitive set is pushing McDonald’s, not necessarily the brand setting,” Magliocca added. “Many quick-service and fast-food restaurants are increasing their low-cost options, which is most likely providing incentive for McDonald’s to explore other options to retain their market.”
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