Posted 3/13/2024, 8:09:27 PM
McDonald's Loses Budget Shoppers to Grocery Stores as Dining Out Costs Outpace Food at Home
- McDonald's shares trading lower as lower-income consumers choose groceries over dining out
- CPI shows grocery cost inflation slowing more than dining cost inflation
- McDonald's CFO says they are losing lower-income consumers to grocery stores, not other chains
- Consumers being more frugal and careful about dining out spending
- Chains competing on value and affordability bundles to attract budget-conscious consumers