McDonald’s CEO promises to lower prices as costs spark backlash

McDonald’s CEO Chris Kempczinski says the company will focus on “affordability” as complaints soar over the rising cost of the fast food chain.

McDonald’s is one of the most famous fast food chains out there, boasting locations not just in America, but in many other countries around the globe.

However, many Americans can’t help but notice that the once-affordable fast food behemoth is no longer a cheap meal option.

For example, McDonald’s famous Dollar Menu was retired back in 2018, and some meal combos are now nearing the $20 mark in certain US locations.

It’s safe to say that rising costs have sent consumers into a tizzy… but McDonald’s CEO is promising more affordable fare in the near future.

Unsplash.com: Brett Jordan

McDonald’s CEO says franchise will focus on “affordability”

In an earnings call on Monday, February 5, franchise CEO Chris Kempczinski said the company plans to focus on lowering its prices as low-income customers increasingly turn away from fast food in favor of eating at home.

“I think what you’re going to see as you head into 2024 is probably more attention to what I would describe as affordability,” he stated.

“Eating at home has become more affordable. The battleground is certainly with that low-income consumer.”

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However, fast food prices are still set to rise this year, with California implementing increased wages for McDonald’s employees and other chains within the state starting in April.

This news follows outrage around McDonald’s pricing, with a user on Twitter/X going viral after spotting an $18 Big Mac meal combo at a rest stop in Connecticut.

Now, former McDonald’s chefs are turning to TikTok to help consumers find cheaper ways of making their favorite eats at home — or at the very least, finding some less costly alternatives at the grocery store.