Lower-income customers aren’t finding much value in the menu at McDonald’s these days.
Traffic dropped “nearly double digits” industry-wide among this demographic, chief executive Christopher Kempczinski told investors Wednesday during the fast-food giant’s third-quarter earnings call. Such customers are disproportionately feeling the strain of mounting economic pressures, including higher prices on groceries and apparel as well as the growing cost of rent and child care, he said.
