McDonald’s Corporation (MCD) Brings In The $5 Mega Burger, ‘Sirloin Third Pound Burger’
McDonald’s Corporation (NASDAQ:MCD) reruns its big burgers menu, hoping to see big customer return. Around two years ago, the largest fast food chain had a special type of burger, the Angus Third Pounders, which were discontinued. Now, the restaurant chain hopes to turn back the clock and see the big-burger buying customers return, by reintroducing larger burgers in the same vein.
McDonald’s Corporation outlets in the U.S. will now have beefier burgers on the menu, for a trial period. The latest additions on MCD’s menu will be higher-priced, at $4.99 per item. The hope is that the fast food chain can further entice its budget-conscious customers to move up the menu and buy higher-priced sandwiches and burgers. For example, the ‘Sirloin Third Pound’ burger is expected to compete with fare from the ‘premium’ burger chains down the line.
Additionally, McDonald’s Corporation (NASDAQ:MCD) allows its franchisees to price the test products higher, if required.
Company must morph
MCD is in the news for many good things in recent times, thanks to change of management at the highest level. New CEO, Steve Esterbrook, knows that MCD needs to morph into the new age ‘progressive burger company’ mold, if it wants to remain in the industry. His policies are aimed at overriding the losses of the past two years, besides erosion of its traditional consumer base in the U.S. As new age fast food chains disrupt the staid retail-chain at the turn of the millennium, and chains such as Chipotle Mexican Grill or Five Guys provide quick service and varied menus, MCD’s wish to change is probably right.
McDonald’s Corporation (NASDAQ:MCD)’s re-introduced, larger-sized, higher-priced burgers are an attempt to rebrand itself as a ‘premium’ chain and not just that of the budget-conscious. This will be possible only if the quality of the food too changes, opine many customers. Attempts such as the all-day breakfast menu and the option of customizing standard menu at MCD are aimed at improving sales, which fell by 4% in February 2015.
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