McDonald's CEO Chris Kempczinski indicated that high menu prices are a significant concern, with same-store sales suffering as a result. Starbucks is experiencing a similar challenge, having raised drink prices by 39% in the past decade, outpacing inflation rates. A study highlighted the increasing number of hours workers need to labor to afford Starbucks beverages. CEO Brian Niccol noted that while comparable store sales grew by 1%, customer traffic declined as prices deterred visits. Efforts to revive foot traffic include simplifying the menu and creating a more inviting store atmosphere, although some management decisions, like a dress code for baristas, may stir customer discontent.
McDonald's CEO Chris Kempczinski remarked that same-store sales are struggling in light of high menu prices, highlighting challenges due to the uncertain economy.
Starbucks, facing similar pressures, has seen its drink prices rise 39% over the last decade, exceeding inflation, which dissuades customer visits.
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