Looks like McDonald’s is reaping what it sowed. Shit food at shit prices and no one wants to buy?! SHOCKER.
Seems like the accountants all across the drive through world have forgotten that the reason cheap food was so popular is that it was CHEAP food.
Ironically even though their main menu items and combos have gone crazy price-wise in the last couple years, McDonald’s is one of the few fast food places I still frequent for lunch because if you use the app you can still get a decently filling meal for 6-7 bucks; 2 double cheeseburgers BOGO $1, large fry (free), large drink at regular price. Not great, but 6 something bucks. The quarter pounder combo meal I used to get has nearly tripled in price in the last 5 years and the Big Mac is not only smaller but way more expensive…
Not sure what they were expecting to happen 🤷♂️
This chart really highlights the problem; since 2014 overall inflation is 31% but MCDONALDS inflation is at 100%!
I went there a few months ago because of some happy meal toy my kids wanted. It was $60 to eat there. We could have went to Denny’s or Waffle House and gotten a massive amount of food for that price.
Instead, McDonald’s started filling their burgers with garbage filler and charging even more for it. My kids got home and were still hungry. Never going there again.
Denny’s
Uh, have you been to a Denny’s lately? Their prices have gone crazy lately as well.
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I guess “consumer pullback” is one way to describe what’s going on with the economy…
The headline uses that term because consumer spending, across the economy as a whole, is up and a healthy amount. The “pullback” appears to be in select subsectors where price increases have drastically outstripped core inflation and/or specific companies who have done so without regard for competitors’ pricing.
Thank you.
It shouldn’t (still) surprise me, but it always does…when people do drastically misunderstand or misinterpret economic information.
In fairness, this is a new development as far as economics goes. It’s very unusual that a fast food burger is as expensive as a sit down restaurant. Which is why we’ve used things such as the Big Mac index for understanding purchasing power. Prior to this, it was assumed that fast food was a kind of essential item that arrived at its lowest cost.
What other consumer spending is up? Does that include rent and groceries? I mean, is that “increase” I spending not due to ridiculous amounts of “inflation” (read: corporate profits)?
(Can’t read the posted article since it blocks adblockers apparently)
Real personal consumption expenditures is the most commonly used metric for “consumer spending” and it is adjusted against inflation. That is the number which is seeing 0.3-0.5% growth month over month, in 2024. There are other ways to measure consumer spending which are not adjusted against inflation or may only target baskets of goods.
(Can’t read the posted article since it blocks adblockers apparently)
Some talking heads on NPR were discussing the economy and how this was “the first time Millenials were seeing inflation” and how the economy is just waiting for consumers to “adjust”. This in the context of them also basically saying there needs to be more unemployment so wages don’t get higher.
It’s like victim blaming or something, corporations went on a price gouging spree during the pandemic and now we all have to learn to deal with it so Wallstreet can go back to business as usual, and they’re getting all pissy that people’s response is simply finding ways to spend less, instead of giving up their last nickle.
Funny how they never talk about corporations needing to tighten their belt or “adjust their expectations” to paying higher wages.
The plebs are not buying our shiti slop… poor corpos, didnfu nuffin to deserve this!!! RHEEE
McDonald is not a food company, it’s a real estate company.
All the posters complaining about the food quality are missing the point. They could sell cardboard and for years their bottom line would be unaffected until franchisees started failing en masse.
