Amid rising oil prices due to the war between the U.S. and Iran, fast food franchises in the U.S. are strengthening their cost-effectiveness menus. NBC News reported that fast food franchises across the U.S. are focusing on developing cost-effectiveness menus to attract consumers who are burdened by oil prices.
With the average price of regular gasoline in the U.S. rising 35% in March, experts predicted that low-income families could reduce their spending on eating out. Contrary to concerns, McDonald’s, Burger King, and Taco Bell’s recently announced first-quarter sales performance was compliant. In particular, McDonald’s sales in the U.S. increased by about 4% year-on-year.
The key to the increase in sales was strengthening its cost-effectiveness menu. McDonald’s is actively promoting its breakfast set, which is priced at $4 and below. “McDonald’s will never lose out in the cost-effectiveness competition,” McDonald’s CEO Chris Kempczinski said.
Other franchises have also started price competition. KFC has created a special menu called “Today’s $10 Bucket,” and Burger King is also focusing on developing a cost-effective menu.
Jonathan Maze, editor-in-chief of the restaurant-related media “Restaurant Business,” said, “Costing costs are very important these days. This is because low-income consumers are under great pressure from inflation.” He added, “When consumers eat out 10 times recently, three of them are due to discount events.”
Fast food franchises are seeking to increase sales by developing social media contents and unique menus in addition to promoting cost-effective menus. Experts predict that unusual attempts will be made in the industry to attract customers’ attention.
SALLY LEE
US ASIA JOURNAL
