Outliers like Wingstop and Chipotle Mexican Grill show that customers will still order their favorite foods, even if they're more expensive than they were a year ago.For months, economists have been predicting that consumers would cut back on their spending in response to higher prices and interest rates.
Outliers show that customers will still order their favorite foods, even if they're more expensive than they were a year ago.Even so, many companies in the restaurant sector and beyond it have warned consumer pressures could persist. McDonald's CEO Chris Kempczinski told analysts the spending caution extends worldwide.
"We know from the industry data that value is more important and that others are struggling with value, and Taco Bell is a value leader. You're seeing some low-income consumers fall off in the industry. We're not seeing that at Taco Bell," he said on Wednesday. For its part, McDonald's plans to create a nationwide value menu that will appeal to thrifty customers. But the burger giant could face pushback from its franchisees, who have become more outspoken in recent years. While deals drive sales, they pressure operators' profits, particularly in markets where it is already expensive to operate.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BuzzFeed - 🏆 730. / 51 Read more »
Source: nbcchicago - 🏆 545. / 51 Read more »
Source: Collider - 🏆 1. / 98 Read more »
Source: wmag - 🏆 723. / 51 Read more »
Source: Allure_magazine - 🏆 473. / 51 Read more »
Source: dothaneagle - 🏆 337. / 59 Read more »