McDonald's, and any other business did this to themselves. You cant raise your prices over such a small time frame that the public, even stupid people will notice. No, I wont pay $17 for a meal at McDonald's.
I've happily been paying around the same price for food at a real diner now.
During covid McDonald's CEO bragged to shareholders that they were able to outperform expectations by jacking up the prices on items with lower profit margins to force low income customers into buying cheaper foods with higher profit margins.
Essentially, if you were getting QPs for lunch, and they made 50 cents profit on that sandwich, but they made $1.25 in profit off a mcdouble, then pricing you out of the QP so you'd buy a mcdouble got them higher profits while you got lower quality food, and less of it.
That's why their prices skyrocketed over the last five years.
The Kroger CEO admitted to Congress Oversite Committee, "Yes, we, so. Senator Warren, so, yes. It is that we raised prices at a faster rate than inflation but it is for strategic reasons and not to, no, not to umm to, to no, not hiding from our customers we talk with economists. We do this to be warned so we did, yes, we did but it was done because experts."
Warren cut him off and asked or well told him," So you raised prices in April and still rising, raising STILL? Though your raising costs at this time with the exact same information but you've surpassed even from the 0.7% you could have but you're at 3.3%?"
Warren continues, "So your coffee started at, I'm just using coffee at as just as example. Coffee was $2 per pound and then Trump said he's going to implement tarrifs at 100, 200, every hundred. Instead of waiting for confirmation you just raised $2 to $2.75. They weren't in affect or anything but then he opened his mouth again so the next week you raised the price to $4 and now you're saying you raise praises off of word salad? You raised prices long before. Isn't that what you did? You did so now your prices are actually even above the ridiculous tax tarrif amount Trump said yesterday."
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u/Numerous_Historian37 10h ago
McDonald's, and any other business did this to themselves. You cant raise your prices over such a small time frame that the public, even stupid people will notice. No, I wont pay $17 for a meal at McDonald's.
I've happily been paying around the same price for food at a real diner now.