McDonald's Expects To Lower Their Prices in 2024

Reuters

With inflation decreasing, the prices of a Quarter Pounder should come down as well.

One of the major complaints you'll hear from anyone who enjoys a Big Mac or Quarter Pounder w/Cheese is how expensive everything has become at McDonald's. Well, according to CFO and Vice President, Ian Borden, those prices are expected to come down.


Borden did say that McDonald's prices have increased by around 10% in 2023 however, they are aware that consumers are "more weary" of the high prices. Borden said that they will keep in consumer in mind when they make pricing decisions as the company moves forward.


When he was talking about the prices at the counter he said - 


"Obviously, as we head into 2024, knowing inflation has come down a fair bit from its peak…I think our pricing we certainly expect will come down roughly in line with that as we work through the year," 


Last week, someone posted a receipt of their McDonald's order on "X" and it's gotten major attention. The person ordered 2 Egg McMuffins and a bacon, egg, and cheese McGriddle and their total was $23.37. That means that Egg McMuffins are $7.29 a piece. 

The hope for McDonald's for 2024 is to entice people, especially lower-income families, to come back to the Golden Arches by focusing on affordability. 

CEO Chris Kempczinski said - 

"The battleground is certainly with that low-income consumer. And I think what you're going to see as you head into 2024 is probably more attention to what I would describe as affordability,"

 

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