The $5 Meal Deal and the Chicken Big Mac failed to attract customers as global same-store sales fell 1.3%, indicating that even value offerings aren't driving traffic.
Chairperson and CEO Chris Kempczinski stated, 'We will stay laser-focused on providing an unparalleled experience with simple, everyday value and affordability,' yet the strategy hasn’t boosted customer visits.
Customers, even those who prioritize value, find McDonald's too expensive, with meal prices being significantly higher than advertised, leading to a perception of poor value.
Sales declines in China, McDonald's largest market, compound the challenges as they struggle to maintain growth amidst rising labor costs and competitive pressures.
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