The shares of the fast-food chain, McDonald’s Corporation (NYSE:MCD), plunged nearly 5% after the company announced its November sales figures. The restaurant chain lost sales in all the markets including the domestic US market, Europe, and Asia/Pacific, Middle East, and Africa. With falling sales and increasing competition from smaller brands, the world’s largest fast-food chain is focusing on “Create Your Taste” campaign.
McDonald’s Corporation (NYSE:MCD) announced its November sales on December 8, 2014 reporting 4.6% decline in the U.S., 2% decline in Europe, and 4.0% decline in Asia/Pacific, Middle East, and Africa. The decline in November marked 12th continuous month without any growth and this is the largest slump in sales since June 2001 for the fast-food chain.
The company is focusing towards a new strategy, “Create Your Taste,” under which the customers would be able to choose their custom toppings such as tortilla strips and jalapenos. McDonald’s Corporation (NYSE:MCD) has added chicken as another topping in the menu and this scheme would commence in five more states in addition to southern California.
While talking about the changing consumer taste, Don Thompson, CEO of McDonald’s, said,
“Today’s consumers increasingly demand more choice, convenience and value in their dining-out experience. We are working to bring the McDonald’s Experience of the Future to life for our customers to better deliver against these evolving expectations.”
As of now, the fast-food chain is facing double competition in terms of discounts and more food options from other smaller chains including Burger King Worldwide Inc (NYSE:BKW), Wendys Co (NASDAQ:WEN), Chipotle Mexican Grill, Inc. (NYSE:CMG).
McDonald’s Corporation (NYSE:MCD) is improving its current menu by introducing some old food options while adding new items in the menu. McRib Sandwich is reintroduced in over 75% restaurants in the United States and the company is offering jalapeno burger for $2.
This article has been written by Prakash Pandey.