McDonald's faces pushback over price increases from loyal customers.
TL;DR
McDonald's CEO Chris Kempczinski said that customers are pushing back against higher prices in some markets and adding fewer menu items to their orders. Consumers' resistance to higher prices has come from going "off script" from the models it uses to determine its pricing strategy. However, McDonald's reported its third consecutive quarter of U.S. traffic growth, and it's gaining market share across all income brackets. The fast-food giant topped Wall Street's estimates for its Q1 earnings and revenue, helped both by its higher prices and increased demand.
Topics:top-newsbusiness#business#consumer-resistance#inflation#mcdonalds#price-increases#q1-earnings
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