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Corporate America may be bumping up against the limit of its power to keep raising prices as consumers in some markets cry uncle.
At McDonald's, which has repeatedly boasted about its ability to raise menu prices without denting sales, executives are finally acknowledging that customers need a break.
On Monday, as the burger chain reported weaker-than-expected sales at its US stores, CEO Chris Kempczinski addressed McDonald's "affordability" problem, and indicated the chain would cut prices on some menu items.
In a statement to CNN, McDonald's declined to comment on specific price cuts but reiterated its commitment to providing affordable options to consumers.
While inflation has slowed significantly, prices for everyday necessities remain high, and people are getting fed up. McDonald's has become a regular target for social media users complaining about prices. Viral stories lamenting the cost of a Big Mac meal particularly the $18 ones at a widely maligned Darien, Connecticut, location off I-95 have become a TikTok genre unto themselves.
On TikTok, it's a common refrain for McDonald's customers to say the company has gone too far, charging more than $3 for a single hash brown in some locations.
"Who told y'all y'all was that good to be charging that much for your food?" quips one user in a TikTok video titled "McDonald's has gotten too cocky."
Other popular videos call out the audacity of a medium French fry costing roughly as much as a Filet-o-Fish.
https://www.cnn.com/2024/02/06/business/mcdonalds-prices?cid=external-feeds_iluminar_yahoo
The problem with having a service based economy (aka -Consumer Economy) is when things slow down there's nothing left to sustain the growth needed to service debts.
If you haven't figured it out by now, we are running in a car going 100mph without brakes with a giant brick wall straight ahead.......
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