Tom Dougherty, CEO – Stealing Share
26 January 2016
Last summer, I wrote a blog about McDonalds breakfast going all day. It detailed my belief that an all-day breakfast menu was just a temporary fix for the struggling fast food chain.
This all is important to note because McDonalds announced that sales at locations that have been open for a minimum of 13 months have jumped by 5.7%. This steep level of growth is the highest that McDonalds has seen in over four years. Moreover, shares were also nearing an all-time high at $120.
This recent McDonalds breakfast growth is grand, but it does not reflect lasting change. And it certainly does not address the problems the chain faces for long-term growth.
McDonalds breakfast growth is superficial.
I enjoy the Egg McMuffin and hash brown combo meal as much as anyone else. That’s especially true as a late-night fix. But that’s all the McDonalds breakfast is for McDonalds right now. A temporary fix.
Stealing Share has spent spent countless hours reflecting on the issues facing the fast food industry, and specifically McDonalds. That said, we remain steadfast in our belief that the dilemmas facing the franchise remain deeply intact.
Know this: The all-day McDonalds breakfast hasn’t garnered new customers, but has only found a way to keep the old faithful coming in on a more regular basis. That’s it.
When we speak of switching triggers, we ask ourselves to define the attributes that the brand delivers and identify those attributes that are of primary importance to the target audience. By definition, you only switch for the things you don’t already have.
Therefore, I leave you, the reader, to reflect upon the following question.
In the ever less popular fast food industry, has McDonalds breakfast done anything to bring new customers through the doors?
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