In the Chinese fast food market, KFC and McDonald's must be the absolute kings, just recently McDonald's announced a price increase that sparked heated discussions in the market, why did McDonald's announce a price increase?Is the price hike of fast food coming?What the hell are we supposed to think about this?
First, McDonald's took the lead in raising prices
According to a report by China News Service, some netizens said, "McDonald's main products have raised prices across the board, and nearly 90% of the main hamburger snack products have increased their prices by 0."5 yuan, Maika** synchronous price increase of 1 yuan. In this regard, McDonald's responded to Zhongxin Finance and Economics that in combination with the recent changes in operating costs, McDonald's China has adjusted some products**, with an average increase of about 3%, and the price has been clearly marked on each ordering channel.
McDonald's price has risen, and netizens have been hotly discussed, some ridiculed, some expressed puzzlement, and some were "angry". Some netizens commented that wages have not risen, and the price of Golden Arches has increased. Some netizens laughed and commented that the price increase cannot increase the poor ghost**. More netizens commented that McDonald's price increase was linked to consumption upgrades, and this netizen commented that Lao Mai, you have taken a small step, which is a big step for my consumption upgrade.
Some netizens also have a negative view on McDonald's price increases, saying that McDonald's burgers are getting smaller and smaller, but they are getting more and more expensive. Some netizens ridiculed that McDonald's has increased its price and wants to turn around to buy McDonald's flat Tustin. Kunpeng Project
Since the beginning of this year, fast food tea retail companies such as Mixue Bingcheng and Tustin have taken measures to increase product prices. However, in terms of product price adjustment, many companies appear to be "cautious" - strive to offset the pressure of operating costs in all aspects as much as possible through refined management, and significantly reduce the transmission effect of cost increases to end products.
Second, is the tide of fast food price increases really coming?
As a world-renowned fast food brand, McDonald's has attracted much attention for its every move. Recently, the news of McDonald's announcing a price increase has sparked a wide range of heated discussions and discussions
First of all, in recent years, the rapid development of various costs has brought great pressure to various catering enterprises. The increase in raw materials, labor costs, rents and operating expenses has made the profit margins of enterprises continue to be compressed while maintaining the original system. Taking McDonald's as an example, all kinds of food on its menu require a large number of meat, vegetables, bread and other raw materials, and the ** of these raw materials is affected by factors such as global ** chain fluctuations, climate impacts and policy adjustments, showing a continuous trend. In addition, with the development of social economy and the improvement of workers' awareness of the protection of their rights and interests, labor costs are also increasing year by year, which is undoubtedly a big burden for fast food companies that rely on a large number of employees.
Secondly, consumer sensitivity to ** is a factor that McDonald's must consider when raising prices. Although this can be explained to some extent by rising costs, consumers tend to be very sensitive to change. In the highly competitive fast food market, McDonald's needs to weigh price increases against market share. If it is too fast or too high, it may cause consumers to switch to other competitors, such as KFC, Burger King, etc. Therefore, McDonald's must ensure that the price increase does not unduly affect consumers' willingness to buy when adjusting**.
Third, in the face of cost pressures, fast food companies can choose to raise prices as a coping strategy, but this does not mean that just raising prices will solve the problem. Consumers' demand for fast food is not only to meet basic dietary needs, but also to value cost performance and experience. If there is no corresponding improvement in product quality, service or environment after the price increase, consumers are likely to feel that "the price has increased but it is not worth the money", so they will choose other brands that are more cost-effective. Therefore, while raising prices, fast food companies must pay attention to improving the value of products and services, so that consumers can feel that although there is a certain amount of experience, the experience and satisfaction obtained are also correspondingly improved.
Fourth, in the current market environment, consumer needs and expectations are getting higher and higher. They not only pay attention to the quality of the product, but also pay attention to the quality, service and emotional value of the product. Therefore, in the process of price increases, fast food companies need to fully consider the needs and expectations of consumers to ensure that consumers can get satisfaction and pleasure in the process of purchasing products. This requires enterprises to carry out all-round improvement in product research and development, marketing strategy, service level and other aspects.
In short, McDonald's took the lead in raising prices, which indeed reflects the current cost pressure faced by catering companies. However, price increases are not the only solution, and companies need to work on other fronts to meet the challenges of the market. In this process, the needs and expectations of consumers are key. Only by truly making consumers feel value for money can they be invincible in the fierce market competition.