Make Way for McDonald’s New ‘Dollar Menu & More’ on November 4
As evidenced by McDonald’s (NYSE:MCD) latest earnings report, released Monday, the world’s largest fast food chain needs to curb the losses, and it needs to so fast. Facing flattened demand and a dropping share price, CEO Don Thompson has worked to launch appealing seasonal offerings, alliances with high-profile organizations, and even healthier menu options, but so far, those efforts have proven futile — that’s where the higher-priced Dollar Menu comes in.
It was back in September when we first learned that McDonald’s was testing a rebranding on its iconic Dollar Menu in five U.S. markets. The refresh, called “Dollar Menu & More” will soon be offered at all restaurants starting November 4, Bloomberg reports. Dollar Menu & More still carries the popular $1 fare, but it also includes offerings that go for $2 and $5, rounding out the “& More” portion of the menu’s new title.
McDonald’s initially faced criticism from its loyal customers, who counted on the chain to keep prices down, but despite the rumblings, Thompson highlighted the advantages of the menu in his earnings call Monday, explaining that it “gives customers a value ladder of sorts, so that based upon their discretionary spending, they have multiple offers at McDonald’s.”
According to Bloomberg, the menu also works to McDonald’s advantage, because it allows the company to keep the $1 items that attract many of its cost-conscious customers while also marketing more expensive sandwiches that warrant a higher price tag.