NEW YORK: The coronavirus pandemic took a bite out of McDonald's profits and the Big Mac maker said Tuesday it plans to focus on affordability in upcoming marketing campaigns, as US consumer surveys reveal mounting recession fears.
"The vagaries of the pandemic create an unpredictable operating environment," he said on a conference call with analysts. "It's time for us to get back on the front foot," he said."But it also means that we're going to be thinking about the role affordability and value can play." He did not elaborate on the plan to emphasise value, but the company has often had special combo promotions of a drink, a hamburger and fries at reduced prices, as well as a US$1 menu.
"I think our expectation would be that for the same reasons that it was stimulative when it was first put in, there would be some negative implication if it were to roll off," he said.But McDonald's business"tends to be pretty resilient, whether it through recessionary times, or through times of growth".
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