McDonald’s is in some trouble. The world’s biggest fast-food chain just isn’t cutting it anymore.
“McDonald’s recently reported that same store sales haven’t been positive since October 2013,” says Venessa Wong, associate editor at Bloomberg Businessweek.
McDonald’s said back in July that it has a recovery plan underway, and that it would take 18 months to launch improvements.
“These improvements are part of what McDonald’s is calling the ‘Experience of the Future,’” Wong says.
The fast-food chain will roll out several menu changes and digital campaigns through 2015.
“There’s just so much competition now in fast food, not only in the burger category, but also in the fast-casual chains,” says Wong. “They are still a small part of the market, but at a time when fast-food sales are not growing, they are stealing market share and preventing some of the larger chains from growing their sales.”
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